This had to be announced in order for the current board to sure up shareholder support.. in lieu of the dissedent shareholder releases...
My opinion, the section 249d announcement smacks of brimstone related entities wanting to overthrow the board for only one reason.... forgiving the the debt..
How?
By installing a brimstone friendly board, they can extend a resolution to shareholders to approve forgiving the debt..
If this fails, then you watch brimstone file for insolvency and enter voluntary administration to get out of paying the debt.. (or only cents in the dollar)
This is my opinion only based on my own experience of the operations of listed companies.. I have no other knowledge except what’s been announced to market..
This had to be announced in order for the current board to sure...
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