Post by
SilverNS on Nov 17, 2020 6:42am
Restricted Cash
Nothing in the report about the transaction with the exception of restricted cash.
As at September 30, 2020, the Company has restricted cash of $4.06 million (June 30, 2020: $0.30 million) representing issued letters of credit and fixed deposits as guarantees for utilities, custom duties and certain equipment of $0.30 million (June 30, 2020: $0.30 million) and a refundable deposit of $3.75 million received in July 2020 (June 30, 2020: nil) placed in escrow for commencement of a due diligence for a potential transaction.
Comment by
nozzpack on Nov 17, 2020 7:07am
No details but the main point is that it is still in place.....3 + months later. So that amount of time in our data room suggests that the Transaction is a major one. Q1 was announced nearly 2 weeks early . Significant ?
Comment by
romara on Nov 17, 2020 10:59am
And in the meantime, management knows all about the deal, and are allowed to trade ? There should have been a "stop trade" order in place with an announcement by management, of what is taking place. ....... Richard
Comment by
Goldfinger007 on Nov 18, 2020 3:17am
But why Baldock selling on the market
Comment by
romara on Nov 18, 2020 10:06am
Just maybe, he made bad investment choices .... and needs the cash ...... Richard
Comment by
2020oilgamble on Nov 18, 2020 10:07am
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