MST metal storm limited

please urgently write to asic, page-15

  1. 819 Posts.
    Myronc,

    In had noticed in your original post you said "regime controlling Metal Storm (replacing the old Directors, who BTW did not call in the Administrators themselves)". Given the other items in that post I did not ask regarding this. However, given that you have now repeated this in your latest post "IMHO perceived wider concerns since ASOF put the company into Administration in 2012", I thought that this may require further expansion.

    Myronc, I am confused as what you are saying seems to be different from the announcement made to ASX on 26/07/2012 which stated that "the Board of Metal Storm Limited has resolved to place Metal Storm Limited into voluntary administration". We have also been advised that in respect Board minutes of 18 May 2011 and again on 21 September 2011, the Company was looking at appointing an administrator due to the deficiency in the Company's cash forecast. First consideration is seems to be some 12 months before the Administrator was actually appointed, and both were well before the Shareholders approved the ASOF note issue.

    So that there is no confusion and so that those who may consider approaching ASIC, have the correct information please expand on your information that it was the secured creditor that appointed the Administrator.

 
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