Sure we have seen a number of other well known Australian companies go into administration in recent times, as a result of the downturn.
So why won't investors just accept the situation here...as per what the company say............that investments are lost.
There is a big difference in this PRECENDANT setting situation here.....whereby management are working with the banking group to keep the company fully operational - and at the same time, banks extract from the company, some 20% interest PA on these bank loans. All this without a shareholder vote,on such a major company restructure.
Should this be allowed to happen (20%PA interest)....one thing is for sure, nothing is left over for stakeholders, other than the banks.
Administration means a independant third party is appointed..... to look at all avenues to best service the companies obligations to ALL stakeholders.
A 20% PA interest charge....and the company continuing to operate, leaves a situation that is not acceptable.
Issues here may so far have got under the guard of regulators. Point is, as a note or shareholder of this company, I think you have every right to be upset, and accordingly look at all options availalble to you.
Exactly what I am doing, with much more to come.
- Forums
- ASX - By Stock
- why are the issues so different here
BNB
babcock & brown limited
Sure we have seen a number of other well known Australian...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add BNB (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online