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MATRIX METALS LIMITED (ASX:MRX) - Ann: Company Secretary Appointment , page-3 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
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  1. TONSTRIL
    78 Posts.
    clock Created with Sketch.
    16/04/11
    19:57
    Post #: 8277654
    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
    MRX Price at posting: $1.15 Sentiment: None Disclosure: Held
    Likes Created with Sketch. 10  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

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