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Ann: Singapore Legal Update, page-6

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Good Oil

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12/03/19

17:23

Post #: 37736168
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Originally posted by Android789: ↑

The way I read it, it appears the 500k is like a payment plan if you like, so as to defer the bankruptcy proceedings until May. This may (or may not) be sufficient time to negotiate a final settlement amount from Hong. The wording is ambiguous however, perhaps intentionally, so as not to allude to the market that a settlement negotiation is in progress. This avoids the need for a trading halt, and it can be stated that no trading of the shares based on the assumption of a deal being made took place.

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Rubbish....imo... read the ann properly. $500k IS the settlement...… why would you agree to pay anything at all ......without finality??
Legal fees must by now exceed $1m,,,,,, the settlement is better than nothing.... but hardly the $35m 'instant cash' promised years ago...imo.

XST Price at posting: 0.3¢ Sentiment: None Disclosure: Not Held
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