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31.0¢ salt lake potash limited

"recapitalisation plan" = an opportunity for the Middlemas lead...

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Pseudo19

543 Posts.

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11/03/23

12:21

Post #: 66711821
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Originally posted by MicksterB: ↑

Hello heres the latest from KPMG putting the onus on KordaMentha for shareholders:
"We advise that at the reconvened second meeting of creditors of the Company (and subsidiaries) held 2 December 2022, a Deed of Company Arrangement (DOCA) was accepted by the creditors of the Company. The DOCA was executed on 23 December 2022 and the terms of the DOCA were fully complied with and hence the DOCA effectuated on 5 January 2023. As such we are no longer the Administrators of the Company and our role has converted to Trustees of the Salt Lake Potash Creditors’ Trust for the purpose of distributing a return to creditors (excluding shareholders).
Salt Lake Potash Limited currently remains subject to the appointment of Receivers and Managers from KordaMentha. We understand that the Directors intend to work with Receivers and Managers to pursue an opportunity for the recapitalisation of SO4. Shareholders will be informed of any updates when the recapitalisation plan is proposed. There has currently been no declaration that the shares of the Company are worthless."

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"recapitalisation plan" = an opportunity for the Middlemas lead Apollo Group to make some money from the shell? With current shareholders being diluted to oblivion?

SO4 Price at posting: 31.0¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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