I have been going through the liquidator's circular of 28th. March and have tried to determine the actual total distribution amount paid out by the Liquidator.
My calculation is that the total distribution paid 28th. March 2014 would be around $17.5M. That may not be correct but is to the best of the information I can find. On the basis of the Cash Balance reconciliation as at 14th. March 2014 (as distributed with the abovementioned circular) that should leave around a similar amount still to be distributed.
I note that regarding the 10c per share payout just received, the liquidator referred to it as an INTERIM distribution.
Any thoughts on that or is the number of shares on issue (around 175 million) as used in my calculation, incorrect?
HWE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
