Since KM have had their hands in the till prob have pocketed 50 to 60 mill by now in fees… this cash could have been paid off debt which started at 2.8 bill but now prob reduced by at least 60%
Their only sell option with no alternative plan on how Arium could manage a return to market trade, even after considering this is the preferred option for the majority of shareholders
And what makes it worse this proposed sale is has a request for the government to give a massive 400mill (Australian taxpayers money) to help fund this foreign company which is promising anything to get the cash...... if they dont have enough money at the start what will happen at the end
If the government lent this australian taxpayers cash to Arium- a history proven reliable asset, with their strong cash generation the balance sheet would be paid within 2yrs which makes this insolvency firesale an unrealistic option
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