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0.1¢ continental coal limited

However, the Company and the Directors cannot make any assurance...

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riverbrae

2,515 Posts.

26/08/14

23:24

Post #: 13876935
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Originally posted by riverbrae ↑

Directors' recommendation and intention
Having regard to all the considerations discussed in this Notice, your Directors consider that, in the absence of a superior proposal, the expected advantages of the Entitlement Issue outweigh its potential disadvantages and risks.
Shareholders should be advised that if the Resolution is not passed by the required majority and the Entitlement Issue does not proceed, the Company may be unable to meet its payment obligations to its creditors. The failure to implement the Entitlement Issue and pay creditors may have significant implications for the Company, empowering creditors to take enforcement action, including appointing an administrator and the Company may become insolvent. In the option of the Board, the implementation of the Entitlement Issue significantly reduces this risk for the Company

IT IS MY PERSONAL OPINION, HAVING ,ALONG WITH THOUSANDS OF OTHERS LOST A VERY CONSIDERABLE INVESTMENT IN THIS COMPANY ,THAT PUTTING IT INTO ADMINISTRATION WOULD BE IN SHAREHOLDERS BEST INTERESTS.
IT WOULD REMOVE AT LEAST ONE BADLY PERFORMING COMPANY FROM THE ASX.

RB

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However, the Company and the Directors cannot make any assurance as to the price at which Shares will trade after the Entitlement Issue is completed.

IMO that is a correct assessment.
RB

CCC Price at posting: 2.0¢ Sentiment: Sell Disclosure: Held
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0 Great analysis

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However, the Company and the Directors cannot make any assurance...

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