moe holds mgl or reversed Hi, I am a new member here, sitting on...

moe holds mgl or reversed Hi, I am a new member here, sitting on the other side of the world, in Austria.

Some weeks ago I read in this thread: MOE holds 98% of MGL

My meaning is, that this is incorrect. Since 27th May 2005 Moto Goldmines Ltd. (Canada) is the parent entity and Moto Goldmines Australia Ldt. (Australia) is a 100% subsidiary company. Compare with the explanations in the annual report 30.June 2005 on page 3 an 30.

The 98% was only the result of the consolidation of 53,593,270 shares of King Products Inc. into 640,000 New Moto Common shares. Basis was 1 new Moto share for each 83.74 King shares. As shareholders could only change on this basis, the remaining shares less than 83.74 became worthless. That means 98% = 100%