Liquidators move in

I have emailed the Liquidators to confirm the wounding up of WCC and FSE, I received a response today which I would like to share with other share holders:

I advise that Bryan Hughes, Daniel Bredenkamp and Renee O’Driscoll were appointed Joint and Several Administrators of The Waterberg Coal Company Limited and Firestone Energy Limited on 9 October 2017 and were subsequently appointed Joint and Several Liquidators on 6 December 2017 pursuant to an Order of the Federal Court of Australia.

The Liquidators are currently undertaking their statutory investigations into the affairs of both Waterberg and Firestone and completing tasks required in the winding up of the companies.

With regards to your shareholdings in Firestone, please note that the circumstances are somewhat complicated and accordingly at this early stage of the liquidation, although the possibility of a return to the shareholders is unlikely, it is not possible for the Liquidators to issue a statement to the shareholders that could be used for taxation purposes until the possibility of a restructure and/or recapitalisation of the company can be definitively excluded. In this regard, we will consider the prospects of any return to shareholders again prior to the financial year ending 30 June 2018 and if appropriate a notice will be issued.