arasor to be placed into liquidation, page-11

From the AGM.

"

* company will not have sufficient cash to continue in the near future.
- Choices are voluntary liquidation (very soon) or
- Trying to negotiate a recapitalization and allow another company to do a "back door listing" (BDL)

* We believe that a recapitalization follows by a "BDL" will maximize the value for shareholders, however, this requires
- Agreement with secured creditor and others
- Significant work by the board. "

So, arasor shareholders,

Whose interest is best served by the liquidation?

Shareholders form the lowest level of creditor, and as such will only receive any benefit from sale of any assets, after the other creditors, such as banks etc, are paid.

It is likely, then that a liquidation, would see you paid zero. If its a tax loss that your after, ok.

The chairman, as proxy, would vote in line with the directors resolutions, so be mindful not to just fax your form, with him as your proxy. (who serve the creditors)

Does anyone intend going to the meeting?

Surely, we need to nominate one of the commoners, one of us as the proxy.

Its really two choices, wind it up, or hold out for 20m from india payments.

I have suggested in talking to BDO, that a conference call be established to listen to, and comment, ask questions remotely. They will need other callers, to assit with the weight of this suggestion.

Further, unless they adjourn the meeting, then vote occurs then at the meeting.

So i suggest any holders, do organise a well rationalised individual to vote for them.

Any Melbourne based or visiting holders attending the meeting?

This forum is ideal, to arrive at a candidate.