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Latest report > "Zilch". This morning I received dated 4/10/05 back my Query letter as address unknown!. My call last week was never returned. I rang Pitcher & Partners again this morning & told Gentleman(?) handling ESI was not available & to ring back later. Asked receptionist what their address was ( I know should have checked Phone book) She said 140 St Georges Tce. I then asked for PO Box & she confirmed PO Box 7191 Perth??. I left message could Mr Hughs or David ? please ring bak again as per my last message. She said she would. I shall ring back later. > "sshh"! http://www.sharescene.com/html/emoticons/grrr.gif >b.
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Further to previous I rang again spoke to Mr Hughs who confirmed that Creditors meeting had been held some 2 weeks ago, That all resolutions were passed & they were now proceeding with ASX requirements & expected notice to all ESI shareholders woud be sent out in November. They have to give a monhs notice. When I queried as to why my letter to Pitcher partners had been sent back to me as address unknown he had no reason as to why as they receive a lot of mail at that address so I told I would resend with memo on envelope that Address was correct & I'd been asked to resubmit. The reason for such a lengthy post is that I'm getting a nasty feeling of a Run around & suspect that when I'm told that they have no record of me approaching them this public posting will prove events described. > "Ssshh" again > What a nasty supicious world we live in but I've been suckered before by scoundrals & did not appreciate. ( SmartWorld) with them when they refloated @ .01c & reissued me shares @ that price I figured that the scheme was meant to make them money so despite my paper loss I subscribed for an extra 200,000 @ .01. When the new VRC hit .08 or so I cut & ran not having any real info about them.(They are around .17c now) If I can do same with this fiasco We'al be "bloody lucky & I really don't believe in luck. w > b.
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In reply to: bunyip2 on Wednesday 12/10/05 06:24pm



The proposed Deed of Company Arrangement (DOCA) is basically as follows :-


- 1 for 5 consolidation of existing shares (ie 75 M become 15M)

- Approx 200 million new shares issued at 0.01 each in return for capital injection of $2 M

(private money)

- Enersludge technology remains in the company

- Shareholders approval to be sort in December

- relist thereafter.



So, old ESI shareholders will have about 7.5% of a $2 Million company. Slightly better than zilch I suppose.






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In reply to: jessica211 on Wednesday 12/10/05 08:30pm

"Ta" Jess, You obviously have some contacts & that really helps. Sounds like a repeat of SWC .What is our nice new Company > Penny spec mining or new Technology, presumably the currant fad investment for Suckers. Sorry but I've become cynical.Ciao & look foprward to your next post as Administrators won't tell us. w > b.

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  • 3 weeks later...

The document is finally here...we are informed at last!!!


It's not all great news though. Our parcel will be heavily diluted.


How could the company get it so wrong. Everything looked so cheery only three/four years ago. They were paying dividends, winning lots of contracts and now if it wasn't for this $0.01 placement the ESI would be gone???

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  • 4 weeks later...

Any unfortunate shareholders going to Mondays Re arrangement meeting in West Perth. Unfortunately I can't due to medical appointments but would appreciate some share holder feed back. I had understood that Tenex had bought old ESI technology including Enersludge & bulk of technical team went with the sale. ie retained their jobs.Initial reaction to new Rofin Directors & what they prepose would be better than any censored published announcement.

If they can do another SmartWorld we could all get our loss's back. With reconstruction depending on new crew do we take up options as with SWC which I did & it actually made profits from what I assumed was a loss. Know nuthin about Rofin?? TIA & Ciao > b.

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  • 1 month later...
  • ShareCafe Admin changed the title to ECT - ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED

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