Got what we wanted: 2 pro-rated listed companies & full ROC Also got rid of a let's say less value adding elemnt in the Board and added more relevant managment and Directors.
Don't know what more we could have wanted. It's pretty perfect.
Amazed the SP is not higher. Both companies are now worth $ 0,30 cents when split evenly. Hard to believe this remains the case when cash flow/contracts/deals start to come in.
I also believe the reduction of shares will make issuing a divvy (esp for CAD company) much easier.
Also explains why they didn't buy back shares: why bother when this effectively is a rollback anyway.
I like it a lot.
Did anyone receive the Management Circular that was promised in the NR to be mailed around 13th May yet? If so let us know, I haven't seen anything yet.
R.