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02/12/14
18:04
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Originally posted by qqqqqqqqq
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IMO,
How can a decision to vote yes for the mou be made if there are no details of any revenues , costs or profits/losses from SPM production?
Production has gone on for many months and still no financial details released to the market, even for an EGM.
Surely if a company proposes to hold a 79.5% interest in csd, these details would be paramount for decision making.
IMO,
How can these details be kept secret when they are fundamental to the proper analysis of whether this deal is fair and reasonable to non associated shareholders.
Imo, it is okay to provide details of liabilities as listed below:
Assumed employee entitlements will be approximate $1,093,000 and the Assumed Liabilities will approximate $10,000,000.
The Assumed Liabilities relate to a working capital facility of $10,000,000 at the time of completion of the Acquisitions with SPM and SPII.
In addition, CSD is to pay $500,000 per calendar quarter for 4 calendar quarters (a total of
$2,000,000) to SPM so SPM can meet interest obligations on a loan liability owed by SPM to
Industrial and Commercial Bank of China (“ICBC”).
DYOR DYOR
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Good pickup qqqqqqqqq.
I have not had time to look carefully at the report. But, if this is a fair trade, then there would have to be assets acquired which would offset the assumed liabilities?? So I do not think that this really is an issue - otherwise the report should have stated as such, IMO.