Australia's largest stock trading and investment forum Australia's #1 stock forum

REF

Click for more information

0.00%

0.3¢ reverse corp limited

Shareholder meeting, page-3

First 3 Last

Share
Profile

Follow
boomshares

463 Posts.

10

08/06/22

14:24

Post #: 61894906
Share

Originally posted by Patient: ↑

Wow, was not expecting that. Talk about a Reverse*roger*corp!

I assume I have read correctly:

In effect, we "Sandon" are incapable of finding a use for your shell (worth about $500k) and Franking credits (worth about $3.2m) so we are going to take them off your hands by cancelling your shares and allowing you to claim a tax loss.

They will walk away with $4m leaving the shareholders with nothing.

They then plan to "raise additional capital from wholesale and sophisticated investors only" who will in the fullness of time benefit from the franking credits that they have, as Activist Investors, taken from the former shareholders.

Personally I will be voting no and for the company to be put into administration.

I have been screwed by the best in the business over the years but this is beneath a Russian oligarch.

Of course they have the numbers and you @boomshares were right in your reading of the situation all along.

Expand

I thought they'd actually bring the current shareholders along for the journey Patient even in a diluted form. Pretty disappointing stuff from them

REF Price at posting: 0.3¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

US election outcomes: Key economic and market takeaways

Quit before you're fired: Russia bans uranium exports to USA, duplicating extant US ban

PNN

Power gets set for 1000-metre maiden drilling program in Brazil

There are more pages in this discussion • 4 more messages in this thread...

First 3 Last

Add REF (ASX) to my watchlist

SPONSORED BY