Envirogold's ASX advice says: "EnviroGold's request for the waiver followed the minority participant, Grimston World Inc, and its principal, Senor Jose Ignacio Acero Ruiz, refusing to provide the share mortgage to Macquarie Bank despite the findings of recent Arbitration proceedings that they were required to do so."
"Irrespective of the waiver, the EnviroGold Group will initiate and pursue enforcement proceedings against Grimston World Inc to ensure Macquarie Bank is ultimately satisfied in this regard."
I wonder if "enforcement proceedings" just means having Grimston World provide a belated share mortgage, or does it also involve recovering costs and damages for 9 months of delay?
EVG Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
