TEN - Voluntary administration - What does this mean for shareholders?

[nocomment]

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...

[percy]

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.

[nocomment]

makes sense, so really the only hope is they resume trading ...

[percy]

makes sense, so really the only hope is they resume trading ...

That will be up to the secured creditors to decide.