sharetrader
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  1. 23-06-2017, 06:31 PM #1
    nocomment
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    Default TEN - Voluntary administration - What does this mean for shareholders?

    With trading on the ASX halted a few days ago at 0.16 and now into voluntary administration does anyone know what this means for shareholders? Will there be any payout, is there a chance theyll resume trading or is the end of the road with no payback at all?

    I guess shareholders are unsecured guarantors so are way down the list...
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  2. 23-06-2017, 08:03 PM #2
    percy
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    Shareholders are last in a very long que.
    At last balance date the accounts showed $382,775,000 of shareholders equity.
    However if you take out the $346,518,000 of intangibles you are left with $30,254,000.
    The half year result announced on 27th April was a loss of $232,200,000.
    Therefore the cupboard is bare.
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  3. 26-06-2017, 12:18 PM #3
    nocomment
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    makes sense, so really the only hope is they resume trading ...
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  4. 26-06-2017, 01:54 PM #4
    percy
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    Quote Originally Posted by nocomment View Post
    makes sense, so really the only hope is they resume trading ...
    That will be up to the secured creditors to decide.
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