re: bazzariod ##They cant buy orion without any money in the bank.##
Yes they can, and even if no money is raised the deal will still go ahead, Orion will cover any costs.
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##SKG is a shell company for orion. No listing fees.##
There has been a rumour that Orion would take over SKG for over 6 months, even when Orion injected $1.6 million backin in July 2004.....the cash was nominated as a "stategic partnership".
There will be a relisting Fee of $1.5 to $2 million.
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###Shareholders should be happy as this company would have been delisted otherwise.###
Yes I'm happy that the reverse takeover is happening.
I think SKG new at least 12 months ago that they were not getting the take-up they had hoped for, but they didn't wake up one morning and ask Simon Loh if he would be interested in a reverse take-over..........they have had this planned for quite some time.
SKG decided to write off it's goodwill, and have let the company wind down over the last 4 months in preperation for the take over.
This is designed to create tax benifiets for the new entity and it's shareholders.
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