Kirsty78 - You are correct about the impression KPC wishes to maintain that the Satimola deal remains in full force and effect. I shall repeat myself by stating again that it is NOT.
Our intention all along has been to provide accurate information as to the status of the transaction and to invite KPC to correct the original announcement of 31 Dec 2014 in the light of numerous breaches of contract and non-performance of their legal obligations in regards to agreements signed and agreed between the parties. THESE HAVE NOT BEEN EXECUTED and thus KPC's announcements remain misleading and inaccurate.
I quote from our Chairman Gordon Toll is his letter to ASX date 9 March 2015:
"The KPC announcement of 6 March 2015 is substantially contrary to the facts. Any investor relying upon the KPC announcement could conclude that "it is business as usual" between KPC and Satimola and that the Acquisition of Satimola by KPC is proceeding. THIS IS NOT THE CASE"
Citing "complex jurisdictional issues" scarcely informs the market of the true issues and risks attached to the current serious continuing issues between the parties.
We are acutely aware that these a price sensitive matters but hope KPC investors can better able to judge for themselves the risks and rewards of their investments in KPC in the light of the current status of the acquisition of Saimola Limited.
KPC Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
