TGS 0.00% 4.9¢ tiger resources limited

Ann: Update on Proposed Debt Restructure, page-13

  1. 2,401 Posts.
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    So the set down date its the 20 February. I am going to try to get to the court that day to see how it pans out. I am undecided whether to file a notice of appearance. I am pretty sure the court is going to receive quite a few.
    For our interests, I have written to Tiger and Taurus and IFC. I requested Tiger and Taurus provide a facility to smaller shareholders to sell/buy-back our shares at the last market price.
    Tiger finally responded to my questions:
    There is no proposal to buy-back smaller shareholdings (which I proposed), but said the sale of shares 'off market' is available. We will all stay shareholders once delisted.
    Taurus said to steer all enquiries to Tiger, as they are the ones who are administering the scheme. Okay I get that. In my view I do hold Tiger to blame for all of this. They are the ones running the show from start to finish. They are the ones who have squandered our fortunes.

    No response from IFC yet, however I think it would be great if anyone could direct their concerns to IFC and/or their legal counsel.

    From the Fed court hearing notes, I read it as the court will be taking into account ASIC concerns at the next hearing. ASIC are clearly across the issue. I am unsure if any further contact with them will add value? IFC clearly aren't happy but it is difficult to know exactly what their alternative plan is. I do like how they argue that this plan is simply a relinquishment of rights. We as shareholders simply have no rights under the arrangement. I still can't' work out ho they came up with such as ridiculous share price for the debt for equity swap. Did they pluck that silly number out of thin air?
    Also, why wasn't this court hearing and outcome made as a material announcement by Tiger to the market? It's pretty damn big if you ask me.
    Keep fighting for our rights ladies and gents!



 
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