From the letter that SFG sent with the new DOCA proposal, which was not mentioned in the letter to creditors, but would be of interest to us shareholders:
"Additionally, IDC shareholders will be offered a shareholding in the reconstructed company when relisted, whereby 100% of the shares in IDC on 27 March 2015 will be converted to 10% of the total shares in the reconstructed company."
So, in the first DOCA (from Brian we think), us shareholders get 1 share for every 400 we own, so if you own 1 million shares you get 2,500 shares. In the new SFG proposal, we get 1 share for every 10 we own, so 1 million shares ends up at 100,000 shares.
Humm.... What do you guys think ? 400:1 or 10:1.
- Forums
- ASX - By Stock
- IDC
- Ann: Supplement to Administrators' Report
Ann: Supplement to Administrators' Report, page-3
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IDC (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
NXD
NEXTED GROUP LIMITED
Nick Poll, Managing Director
Nick Poll
Managing Director
SPONSORED BY The Market Online