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Online Share Trading

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Sacoil game over

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SimonPB
Valued Contributor
or do they roll the dice again .. hmmm ...
0 Kudos
8 REPLIES 8
suki
Super Contributor
it will never come back. Remember Quuensgate?
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Castro1
Contributor
To many big investors that are still hanging in there...
0 Kudos
Not applicable
Now, that is one of the more comprehensive votes of no confidence you will see in a share. Shareholders voting no for the only option put on the table to keep the company as a going concern. Now, the directors are out, the loan has to be defaulted, and the company, in all likelihood, will fold - with 0 value to shareholders (not that there was any value to shareholders anyway).
0 Kudos
JulzM
Regular Contributor
Who keeps the assets ? The company that the loan is owed to ?
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THRESHOLD
Super Contributor
The liquidators, lawyers and auditors. Their secured fees should more than account for the remaining assets.
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Lee_1
Frequent Contributor
I've watched it through the years as I owned a few not worth selling. Directors find someone to invest, turn their investments into shares diluting any value, then go and look for new investors. I don't suppose those directors expected their free lunch to last even this long. But why did credible people get involved? Is there actually something behind all their press releases?
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Manzini
New Contributor
Some very prominent directors. Do they know something? When will trade be resumed?
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Manzini
New Contributor
Some very prominent directors. Do they know something? When will trade be resumed?
0 Kudos