I called the liquidator earlier today and have since spoken to the liquidator's representative who called me back, to try and get clarification on where the average shareholder stands.
I won't go into detail as when I went to their website I ticked a box stating I wouldn't pass on any info.
I suggest you call them on 08 6363 7625. They can explain only what the outcome of the termination or retention of the liquidator may mean to shareholders, not to the likely actions or intentions of Min Res.
If Min Res get control of the board. what incentive is there for the directors of Alita to try and recover any debts including tax from Tawana or Lithco?
That's a question that can't be answered by the liquidator, but part of their duties is to assess who really owns the debt and liabilities and investigate any other issues, such as historic irregularities that have or may have impacted Alita.
I want the liquidator running the show until all issues have been brought to their conclusion no matter how long it takes. If Min Res want a quick settlement then they can always make a cash offer to shareholders of the 90% of Alita they don't own.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
