HBSWRX and Anthony - I know we are all angry but really why would you vote until you have seen the prospectus and the presentation due out this week/the following week. None of us have any idea what has really happened with Neptune and Anthony if you think for a minute that by voting NO Neptune will NOT go into administration you are wrong. If the raising doesnt work and the NAB demands their money back, the board has no option but to apply for Administration because they cannot pay the NAB. Administration may not come immediately but it will come. Also we do not know what is in the contract in relation to these ex owners that need to be paid out. They also could put NMS into administration for all we know.
I think you need to be realistic about all this. Forget the past and just look on Neptune as a new company that is about to float by looking at the prospectus. There are many ways this could play out, for example, say they get there $80 Million but later they sell $100 Million worth of assets. The board would nearly be forced to pay this $100 Million to shareholders as a dividend and probably fully franked as well. If Neptune does survive, the assets sales will not be a firesale and should receive a reasonable amount for the assets they intend to sell. Also once the business is out of debt and 12 months later they make a good profit, they then are a potential takeover target at a much better price then 6 cents, probably more like 10 cents per share.
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