Hi gcdany.
The Document id huge.
Here is a short commentary.
I have received a CIRCULAR TO CREDITORS regarding KBL Mining Limited from Mathew Woods of the Administrators.
It says they now have reconvened the second meeting of creditors to determine to Company’s future. The document is quite large and I’m concerned that a KBL announcement has not been released through the ASX..
This meeting is scheduled for the 6
th of April in Sydney at the Grace Hotel, 77 York Street and also at Condobolin NSW. Such short notice to me seems absolutely crazy.
Informal proof of debt or claim form for submission by 4:00 PM Wednesday 6 th April. Appointment of proxy form for submission also by same date./
All queries, return of information proof of debt and/or proxy forms should be directed to
[email protected].
The reconvened meeting now details what the Administrators have found out about that unsigned DOCA Proposal presented to the Administrators just before the last meeting by a Everblu Capital Pty Ltd. Also other matters which could help with a DOCA are explained including underwriting which is already up to draft form. A raising of capital by a share offer will be part of any DOCA
Mention is made about the Receivers already in the process of selling parts of KBL and it seems that Sorby Hills share owned by KBL already have a Contract of Sale under way which might be terminated if a DOCA was agreed to
The Document arrived by mail is on double sided pages and is quite massive. It would indicate that this will be the meeting to decide whether the Creditors will accept a DOCA or can KBL for good.
Unfortunately I cannot Scan this much paper
I would suggest who ever needs a copy should contact the Administrators and ask for one. The document also includes information on the Directors actions.
My interests are as a shareholder and one of the largest holders of the unsecured creditor KBL Noteholders which it is mentioned would be given a debt for equity deal somewhere between Zero and 20c per dollar.
