BLV 0.00% 1.6¢ blossomvale holdings ltd

its worse than we thought

  1. 102 Posts.

    If you read or remember the history of NMS aquisitions you would be very nervous.

    TriServe directors x 3 are now eligible for their payout after three years of service as part of the aquisition. My understanding is they are owed just under A$10m. Its due now and they can't be paid.

    The owners of Seastruct are due to be paid out very shorty as their three years are up as well (around A$2-3m).

    Rope Access are due a smaller payout late next year.

    LinkWeld should have been paid out early this year (hopefully).

    You need to add that to the A$40 odd million NMS owed in loans what the NAB and other financial institutions.

    Not to mention the rumour NAB have placed a freeze on the cash ($16m) left over from the IRM failed purchase to protect what is owed them.

    NMS are in deep do do...
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