Should have been put into administration last year, it's the...

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Rover52

88 Posts.

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27/08/14

06:16

Post #: 13877226
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Originally posted by riverbrae ↑

Directors' recommendation and intention
Having regard to all the considerations discussed in this Notice, your Directors consider that, in the absence of a superior proposal, the expected advantages of the Entitlement Issue outweigh its potential disadvantages and risks.
Shareholders should be advised that if the Resolution is not passed by the required majority and the Entitlement Issue does not proceed, the Company may be unable to meet its payment obligations to its creditors. The failure to implement the Entitlement Issue and pay creditors may have significant implications for the Company, empowering creditors to take enforcement action, including appointing an administrator and the Company may become insolvent. In the option of the Board, the implementation of the Entitlement Issue significantly reduces this risk for the Company

IT IS MY PERSONAL OPINION, HAVING ,ALONG WITH THOUSANDS OF OTHERS LOST A VERY CONSIDERABLE INVESTMENT IN THIS COMPANY ,THAT PUTTING IT INTO ADMINISTRATION WOULD BE IN SHAREHOLDERS BEST INTERESTS.
IT WOULD REMOVE AT LEAST ONE BADLY PERFORMING COMPANY FROM THE ASX.

RB

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Should have been put into administration last year, it's the only way any present shareholder would see any return. Not sure how it can be done, but it's either administration or call the cops! Difficult to believe that the terms of the general meeting are legal.

CCC Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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Should have been put into administration last year, it's the...

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