If there is anything fortunate now it is that the UXA board of Directors are back in place. At least Chairman Neill Arthur has a great deal of experience from Australia to Germany, UK, Canada and United States.
There are financiers in place who together with the Administrator will organise the meetings taking place up to February 2014. ASIC may well agree to extensions if everything is on track to a conclusion next year.
At least one person does not understand how the company went into administration, so there is a ray of hope UXA may not yet end up in the bread basket.
As to ordinary shareholders getting a return of cash, this is a difficult question to answer at this stage, or indeed retaining a shareholder interest, however watered down it may become.
Time for patience to run on a fair bit longer than it has already.
UXA Price at posting:
0.2¢ Sentiment: None Disclosure: Held
