CIY 0.00% 3.6¢ city pacific limited

... another thing that should be mentioned: MFS (and their...

  1. 243 Posts.
    ... another thing that should be mentioned: MFS (and their directors) are going to get themselves into a bind by trying to flog off assets the way they are. CIY have said that they hope to pick up the MFS assets for a 'nominal' up-front payment. This is ridiculous. As is now being seen with the sale of the Stella assets, the shareholders of MFS are not happy (on the same AFR p.56, as previously referred to) - Chris Scott and other MFS shareholders are getting ready to revolt. MFS need to act in the best interests of their shareholders, and a court would likely require this to at least have assets like MFS Prime Fund put up to tender.

    If CIY think it is going to be an easy steal, they are not only going to ruin the last remains of their own reputation, but also see this thing dragged out for many months - worts and all...

 
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Currently unlisted public company.

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