MRX 0.00% 0.7¢ matrix metals limited

Ann: Company Secretary Appointment , page-3

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  1. 78 Posts.
    it took some prtty creative beancounting to come up with $66M in creditors - apparantly it was on the basis of Glencore losing future profits from its offtake agreement - what a crock!

    won't make much difference, the essence of the recap proposal is that us existing mug shareholders get diluted 1 for 50 which takes issued shares from approx 800M to 16M - this is going to be followed by the issue of 250M shares to the promotors, 20M to creditors and a few other sundry issues

    essentially we will be left with 3/5ths of 5/8ths of bugger all

    cheers

    t
 
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