Admin's update and Company reconstruction

Administrator report 23 May

https://www.ppbadvisory.com/wp-content/uploads/2017/11/STARGROUP-Supplementary-report-20180523.pdf

Proposed reconstruction appears in Section 4.4 page 10

Preferred bidder is Otsana Capital ( perhaps on behalf of a client) . Their website is https://otsana.com/

Existing SGL shareholders own 7,274,756 shares.

Otsana will subscribe for 50m shares at .02c and $50m to cover reconstruction costs. They will issue 50m options. This will pay out the creditors in full for $755,000.

By my take on the situation that leaves $245,000 in cash with undiluted shares totalling 107,274,756.

Ie a net asset per share of $0.0023 per share -  10% of where they last traded.

happy to stand corrected