Why don't we have a capital raising allowing creditors including...

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matchymic

6 Posts.

13/12/16

20:22

Post #: 21312248
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Originally posted by pauljbo470 ↑

While I agree with your position that this isn't going to trade again, and some of the numbers quoted about ARI cash etc are a bit wishful. It isn't really the "creditors" as a whole puling the strings.

It took them less than 2 minutes to declare the vote carried for the DOCA at the second meeting.

They didn't have to count all the votes.

As long as the Banks (and other financial institution lenders), the union employees and the non union employee block (all represented on the committee) stick together. They have the vote by value and numbers to make the decisions for all the rest of the creditors (and are)

So it is basically a very small bunch of people with very specific interests who have given KM the authority to do what they are doing.

That's how it is unfortunately.

I think the only hope for shareholders is if the directors are found to have been in breech.

And that's years away.

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Originally posted by R21 ↑

Like others have said, probably a little light.
Leading up to the DOCA and first month of so of admin would have been multiples of 1m per week IMO.

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Why don't we have a capital raising allowing creditors including KM to swap debt for equity,allowing shareholders to top up. Surely this would retain our competent and experienced staff ,
end the uncertainty ,enable this enterprise to stay Australian and put the Company in the best possible position to enjoy better prices.

ARI Price at posting: 2.2¢ Sentiment: Hold Disclosure: Held
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Why don't we have a capital raising allowing creditors including...

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