MRX 0.00% 0.7¢ matrix metals limited

Ann: Notice of Annual General Meeting/Proxy Form , page-8

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  1. 1,545 Posts.
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    re: Ann: Notice of Annual General Meeting/Pro... zia,

    The shares will relist, once shareholder approval is given and the co meets all ensueing legal, asic, ase and asx requirements. New shareholder statements must be issued, however they will be 'issuer sponsored' so they will not relist through your 'broker'. On relisting you will have to 'reasign' or 'reappoint' them to your 'broker' account.

    Remember also that sage & co will relist the co with the bear minimal capital injection (wasn't it $800,000???), so a share restructure and new issue will inevitably result, if not immediately on relisting. The restructure of the share capital will be based on the market cap at the time of relisting, useing the full number of shares on issue at the time of the appointment of receivers. Sage will have already done the math on this and probably knows the restructure figure - he would have this all worked out to ensure any current holders (???) are diluted to the point of relative insignificance, so he can issue new shares to assume complete control, numerically. He's bailling us out so he can pretty much do as he wishes in this regard.

    I beleive i have posted previously on the mrx thread that a capital restructure could be in the order of at least 10 - 15 to 1, ie for every 1000 shares you held previously you will end up with 100 - 66, for instance. This is purely an example and the final ratio could be anything.

    I suppose the only good news is that all holders will end up with some shares and by relisting will get the oppotunity to sell and get a few pennies back.

    Good luck to all.

    Cheers,
    Mac
 
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