UNS 0.00% 0.5¢ unilife corporation

Vote shortall should stay, page-24

  1. 2,061 Posts.
    A little bit more digging.

    Patrolly what you posted is dated 3/11/2015
    From this Shortall didn't have any shares taken from him.

    EFH pledge
    If he makes payments on the 31/03/2016 he keeps these shares.

    The ICG Pledge is a different matter.

    ASX - This from the announcement 15/12/2015 - Change of Directors Interest Notice

    Notice of direct interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.

    3,401,668 shares of common stock registered in the name of FP Ventures Limited (formerly, ICG Venture Limited) as pledged collateral for loans. Under the terms of the loan agreements these shares were forfeited as a result of default by Mr Shortall. Mr Shortall no longer retains any beneficial ownership in these shares under the terms of the loan arrangements.

    Now I believe that due to further falls in the SP of UNIS a trigger happened here and they called these loans in. Shortall defaulted. As stated above "Mr Shortall no longer retains any beneficial ownership in these shares under the terms of the loan arrangements." I believe he has totally lost these shares.

    --------------------------------------------------------

    Now the following from the 15/2/2015 announcement.

    1,900,000 shares of common stock registered in the name of Equities First Holdings, LLC as pledged collateral for loans. Under US law, Mr Shortall retains beneficial ownership in these shares under the terms of the loan arrangements.

    Now these are the EFH pledge - I believe if he makes payment of Approx $2M on or before 31/03/2016 he will retain these share.


    So in summary he has defaulted on 3,401,668 shares and he has lost them.
    If he makes payment of $2M by end of March he retains the 1.9M shares.
    He has not sold any shares.

    This is my MO and I stand to be correct if wrong.
 
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