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rjs99

492 Posts.

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21/06/17

12:39

Post #: 25404099
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Originally posted by TheCount ↑

As a shareholder you'll get info from the "Administrators" via the mail. As a shareholder you will be screwed to all points of the compass.

Jump onto ASIC to search for the priority order of any funds available for distribution - you'll see staff (but they're also secured by Govt) and the Administrator at the top, then creditors and a trickle down to shareholders. Also go to the Administrator's website to see if any other info can be downloaded.

All the action happens in the "Creditors Trust" stage where creditors have to prove their debts and negotiate with the Administrator for pennies in the $.

Without knowing anything about PNO you can expect a 100-fold dilution in your capital. So, if you had $10k in the stock it's now worth $100.

Feel free to post details as the process continues, but they all follow a well beaten path.

TC.

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