I previously estimated the break even point where assets exceeded liabilities was around $150m, and it seems that in total Mr Sage is paying a bit less than that.
If the unsecured debts are less than I thought there might be a bit left for shareholders, but I wouldn't count on it. I guess we need to wait for a statement from the Receiver.
Does anyone know what happens next? I'm assuming the CUO shell will now be handled by the Administrator who will have to deal with any shareholder claims.
ubhopeful
CUO Price at posting:
5.0¢ Sentiment: None Disclosure: Held
