If shareholders get wiped out by the sale and/or recap plan for Arrium that KM has in store around August 2016, make no mistake there will be a class action lawsuit against the directors of Arrium's Board for possible non-disclosure of information to shareholders.
And that should include the former Chairman Peter Smedley who raised $754 Million in a rights issue at 48 cents in November 2014 - I wonder whether the full and ongoing potential closure costs of Southern Iron (SI) was disclosed in the disclosure documents when people were offered to buy shares at 48 cents. It would certainly influence your decision to either invest or not invest your money would it not?
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)