LIQUIDATION & BALD HILL FOR SALE, page-955

My basic interpretation is as follows although, obviously I'm no expert in all this.

1. A minimum amount made payable to shareholders after the secured debt has been paid.

2. Plus a further amount if there is a residual (positive net) value after the   IER report. If there is none then we still get point 1 amount.

3.  The final amount will be equal to (point 1 + point 2)  - (minus) any other liabilities and taxes.  I assume the taxes are standard company taxes that have to be paid although we are not certain (although likely) the outstanding state royalties from selling cheap SC6 below market prices are included.

Interesting to note that other offers were received but they deemed this the better deal.


All up... expect a small return (if any).  Not sure why the Justice said "significant amount" in the court papers although we still don't know what base price MIN has offered in this deal.