It is intent that Assets and share sale will be a liquidation process.
That is Alita will
> sell the assets that largely are held by the subsidiaries of the Company,
> effectively by the sale of shares of .. the subsidiary
The consideration received by Alita, will be distributed to the Shareholders
And the Independent Professionals ("IPs") will then pursue for "strike-off" /winding up of Alita
As selling the assets and shares, to a listed company will have involved disclosure requirements,
it is likely that the sale of assets and shares will be to private company.
So count Glencore out,.. even if it "best" price
All the IPs concerns will be to erase tracks of any sensitivity to liabilities or claims.
The Consolidation done just prior to the "scheme", was not adequately tight/shut
so while comfortable playing on home ground
So, i am sure, that if not ASIC or ASX.... at least SGX is keeping a close and quiet watch
Explain the consideration received.?
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LIQUIDATION & BALD HILL FOR SALE, page-178
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