It looks like shareholders have been ousted completely.
The company was pretty upfront in that announcement so I would seriously if you are holding the shares or notes to mentally write it off now....hard to accept but looks like the syndicate will just take 100% control of the company now, sell assets then apply to wind it up officially through the courts and banks being banks.....pretty sure they will make sure they drain every last cent out of the company for themseleves and there wont be any left for unsecured creditors and especially shareholders / note holders.
Its amazing this can all happen.
Makes you wonder if you should ever touch shares or even put money in a bank....maybe just bury it or buy land or bricks and mortar.
Going to be a real tough year I think.
Sorry to all who will be taking a hit here.....we have seen a lot of company's go down and take a lot of us out along the way last year and I reckon this year will be the same or worse.
BNB Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
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