View Full Version : TEN - Voluntary administration - What does this mean for shareholders?
nocomment
23-06-2017, 06:31 PM
With trading on the ASX halted a few days ago at 0.16 and now into voluntary administration does anyone know what this means for shareholders? Will there be any payout, is there a chance theyll resume trading or is the end of the road with no payback at all?
I guess shareholders are unsecured guarantors so are way down the list...
percy
23-06-2017, 08:03 PM
Shareholders are last in a very long que.
At last balance date the accounts showed $382,775,000 of shareholders equity.
However if you take out the $346,518,000 of intangibles you are left with $30,254,000.
The half year result announced on 27th April was a loss of $232,200,000.
Therefore the cupboard is bare.
nocomment
26-06-2017, 12:18 PM
makes sense, so really the only hope is they resume trading ...
percy
26-06-2017, 01:54 PM
makes sense, so really the only hope is they resume trading ...
That will be up to the secured creditors to decide.
Powered by vBulletin® Version 4.2.5 Copyright © 2024 vBulletin Solutions Inc. All rights reserved.