Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
After not receiving communication of any kind from Bowen Coal Administrators since the company was suspended on the ASX last July. I received a 1 page letter today, which I think says my shares are being given away to Argo. How is this possible? Or have I somehow misunderstood this sole piece of communication received. Does ASIC have no role in protecting the rights of shareholders in these situations. I would love your assessment of the situation.
Hi Brett,
As you say Bowen Coking Coal has been in suspense since July 2025.
The proposition to transfer the shares to Argo was put before the Supreme Court in March on the basis of the shares having no value. Shareholders and creditors are entitled to be heard by the court, by making a submission by the 16th of this month, before the final hearing on the 23rd.
Unfortunately, this feels inevitable to MM that all will go through.
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