So want to understand (just the facts) on what happens to an ASX listed company when it does not have sufficient funds to continue operations, and what are the timelines?
Lets put aside IM3 for the time being (presumably anyone funding those projects will have quite clear guidelines on shareholders using those funds and arguably they would even limit repayment of IM3 loans if they were smart and focused on execution).
So just to be clear:
- no CR by the end of Sept means that MNS runs out of funds by ~end of Oct
- what do they need to do & when wrt informing the ASX (do they have until the end of Oct given the cashflow report is only due end of Oct, or are they technically in breach of some ASX rule in that they know they don't have the cashflow to survive the quarter)
- what is then the next course of action (administrator? and who can make that call...ASX?)
Again, this is asking questions so I (and hopefully other people) can be informed; no one (apart from mgmt) can be sure as to what is happening in the absence of a public announcement, so I think it would be helpful to understand how much time they actually have and what the potential outcomes are.
Again, lets stick to facts and any links (ASX, corporations law etc ) would be helpful.
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Next step if no funding to be found
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