Some People never learn !!18.4.2019 2 hours agoCarnegie Clean...

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    18.4.2019 2 hours ago

    Carnegie Clean Energy (ASX:CCE) may live to fight another day after creditors agreed to a restructuring plan.The plan is to raise $5m, which administrators KordaMentha Restructuring think will be enough to provide for a recapitalisation of the company, a restructure of its balance sheet and a relisting over the next three to four months.

    Major shareholders and directors who advanced cash to keep the company going before and after administration will swap debt for equity, with some debt being restructured and carried over to the relisted company.Unsecured creditors can expect a return of up to 10c in the dollar, according to the administrators.
    After 20 years of trying to make wave power work on the ASX, Carnegie called in the administrators.Carnegie’s options were limited after the West Australian government in mid-March pulled the plug on a $16m funding deal signed in 2017.


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    Ps ...
    So much for " Green " Energy !!

    More like another Black Hole

    Last edited by birdman29: 18/04/19
 
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