Thanks Jack. Very interesting stuff. So, let me see if I get this. From what I can see, 3 parties made money from IDC. 1. This guy SH Koh, selling Summit to IDC, 2. Empire Securities doing the deal and arranging financing, and 3. The directors, one of which is a brother to the Empire guy ?
And I am left with an unmarketable parcel of securities that are soon to be worthless... Humm. Back of the envelope type deals with the outcome probably going in the way of the major creditor who is also a major shareholder, with no ASX updates. This would be comical if it wasn't so financially troublesome to shareholders.
IDC Price at posting:
0.6¢ Sentiment: None Disclosure: Held