Doesn't seem like a particularly good deal for Sandon.
If one buys shares for 3c and manages to get control and wind the company up there seems to be 1c/ share of cash as the pay off. But the directors may have agreed generous break positions with the CEO and staff, the wind up costs might exceed 1c/share.
Are there any other assets of value, franking credits perhaps?
bacci
Ann: Company Update, page-2
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