For those still interested in following along who may not be aware of the latest news.
IGE is still a long shot, but if the administrators can complete the DOCA process and then recapitalise the company, it's possible the restructure could succeed and the company rise like a Phoenix from the ashes (minus the previous CEO of course, which I've been told is a pre-condition for participation by most large shareholders). The legal stoush is going to get interesting, to say the least. Talk of trading insolvent, 'inauthentic' bank transfer documents etc ... oooh la la!
It remains a very challenging environment for hydrogen projects world-wide, although I suspect that will change again over time.
In their third circular to shareholders, KordaMentha advise they are aiming to have the investor pack out by 24 April (shareholders have had far more information from the administrator in a few weeks than we got from the company in the last 6 months ... 3 circulars and an online live shareholder meeting).
Note the 15 April article below erroneously states that Coleman was chair of IGE until April 2023. Coleman remained as non-executive Chairman until he, Tim Lester, and Chris Salisbury, all resigned on the 19th of April 2024, according to previous reporting. Coleman still has a significant shareholding in IGE, according to VCEX records.
