Financial position Administrators providedThanks to a memeber of...

Financial position Administrators provided

Thanks to a memeber of this forum who investigated and found the link to the administrator’s presentation in the Creditor’s meeting.

Please note that by the book value the estimate is after the creditors are paid out the shareholders will get almost A$0.20

A clear case of asset rich but cash poor. That is what we need to provide. Cash. With a changed management the shareholders are willing to subscribe for the new SPP and deliver the required money.

So in a united voice let us request the administrator to organise a new SPP immediately with the change in management. Organising it from 08-04-09 will meet the 30-04-09 deadline for the second creditors meeting and that would let the shareholders have their say as well.

URL:

http://www.ferrierhodgson.com/en/Current%20Matters/Corporate%20Recovery%20Matters/Ventracor%20Limited.aspx

At the bottom of the page there is a subheading "Documents available for download:"

Page 8 of the third document is the one that provides full details of the current financial position.