Any Monarch holders that have opinions on the recapitalisation plan I'd be pleased to see your comments.
I'll start off by saying that the offer document is as clear as mud (probably because I havent the patience to scroll thru the whole deal) but it appears that the shares will have a nominal value of less than 1c when relisting as Swan Gold Mining.
I am beastly careless about whether it goes into liquidation or not as the "retail investor" (viz. you and me)are going to get Jack ....
What irks me is that Kiernan ends up with 6.72% of the recapitalised co from his original interest of 72.54% and we.... (place suitable self deprecating noun) get our shares diluted from 72.54% to 19.48%.
It is my opinion that to get something back for the thousands that I and many others have lost on this, is a dream unlikely to be realised.
In the mean-time the creditors (and look at the list) get their dough.
The perpetrators of poor planning get the better deal IMO.
I have not signed my document yet and may well be swayed by other holders' comments.
Please inform me and any other holders of your opinions.
Regards and commiserations to all fellow suckers, JoHilo
Disclosure: a large position that is worth no position and sentiment ... well I obviously could give a .
The above is obviously not advice - merely solicitation for comment.
MON Price at posting:
29.5¢ Sentiment: None Disclosure: Held
