MON 0.00% 29.5¢ monarch gold mining company limited

Now that a DoCA has been declared, share holders can sell MON...

  1. 20 Posts.
    Now that a DoCA has been declared, share holders can sell MON shares 'off market' if they so desire, at whatever price can be negotiated. In many instances, it will probably cost more to dispose of any holding due to transaction fees than the amount generated by the sale.

    This will realise a loss on the transaction in the same manner as a 'stop loss' instruction and be reflected in your tax return for that financial year accordingly.

    Alternatively, a share holder can wait for the final disolution of the company and claim a loss on their taxation return in the financial year that it takes place.

    Keep in mind that a DoCA does not mean that the company will permanently cease trading. It is possible (unlikely perhaps) that MON may rise from the ashes in a totally restructured form (perhaps renamed Phoenix Gold ?).

    Equally, a share holder may choose to retain their holding and wait for the final distribution of available funds rather than dispose of any holding 'off market' if/when the company is finally wound up.

    If liquidated company assets satisfy ALL creditors claims, any excess monies are equally distributed to share holders in the event that the company ceases trading.

    Selling your share holding now isn't going to have any taxable impact until July next year, unless of course somebody is prepared to offer you a price that you deem acceptable for your parcel.
    Rgds,
 
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Currently unlisted public company.

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