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TRS, TRS INVESTMENTS LIMITED
plastic
post Posted: Mar 12 2019, 08:19 AM
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Guess the NZX are too busy getting their committees in order to be bothered with a shitty little company's restructuring attempts.

Luckily the directors aren't too perturbed about it either.



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What did Uncle Mel do to us?
 
plastic
post Posted: Mar 1 2019, 08:57 AM
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Into March and the NZX still have not commented on documents which came into their possession in September or October last year.

Does anyone else smell a rat in the kitchen?

Five months ago, total assets, all of which were current, were listed as $181,000. Total liabilities amounted to $687,000. With trade creditors owed $207,000.

Assuming the trade creditors operate like most businesses and expect to be paid in a timely fashion, technically speaking TRS should be out of business. For in effect they are insolvent. Funds due exceed funds available.

After the Mainzeal decision, I think these directors need to do something pretty quickly lest they are held liable.






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What did Uncle Mel do to us?
 
plastic
post Posted: Feb 22 2019, 10:40 AM
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How can we be at the end of Feb. and still no update on this transaction from either the company or NZX?

Outrageous.






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What did Uncle Mel do to us?
 
plastic
post Posted: Jan 23 2019, 12:20 PM
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NZX must still be on holiday or "shortly" is a subjective concept.



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What did Uncle Mel do to us?
 
plastic
post Posted: Jan 16 2019, 04:30 AM
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What is with the NZX that they can't make a simple decision? TRS must be insolvent by now.



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What did Uncle Mel do to us?
 
plastic
post Posted: Dec 24 2018, 08:37 AM
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You have to wonder what is wrong with the NZX. Since when does an exchange get to determine what is best for a company's shareholders?

There must be another game going on behind the game we are seeing. Wonder what it could be?





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What did Uncle Mel do to us?
 


plastic
post Posted: Dec 14 2018, 12:57 PM
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...and on the 28th of November they had this to say,

QUOTE
TRS expects to be in a position to update the market on the LIDA transaction in the near future.


I wonder what calendar they are on.






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What did Uncle Mel do to us?
 
plastic
post Posted: Nov 16 2018, 12:54 PM
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Am beginning to wonder if the documents filed are very complex or the NZX is a bit too thick to be able to comprehend them because they are taking so long to respond. Here is TRS' last press release.

QUOTE
TRANSACT: TRS: Update on LIDA Transaction 2 October 2018 TRS: Update on LIDA Transaction This announcement is to provide an update on the transaction with LIDA Agricultural International Holdings Limited ("LIDA") described in the announcement made on 13 June 2018. The proposed transaction is progressing well and TRS has completed a draft Notice of Meeting for a special meeting to be held for shareholders to approve the transaction together with a listing profile. TRS has lodged these documents with NZX for their consideration and review. Upon approval of the above documentation TRS will call a special meeting to consider the transaction.







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What did Uncle Mel do to us?
 
plastic
post Posted: Oct 19 2018, 08:29 AM
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This was filed on October the 2nd. Just two working days after the AGM which is when you would've expected the resolution to offered to shareholders since they've months and months and months, maybe years to get this thing sorted.

QUOTE
The proposed transaction is progressing well and TRS has completed a draft Notice of Meeting for a special meeting to be held for shareholders to approve the transaction together with a listing profile. TRS has lodged these documents with NZX for their consideration and review. Upon approval of the above documentation TRS will call a special meeting to consider the transaction.


Now, instead of TRS being the slackers, I guess they can turn around and say, not us, its the NZX which is useless. Blame them. But why do they need the NZX's approval for their business structure in the first place? Hell, they might as well go and ask the auditors what they think any Minister that could be connected through the various Acts that apply but the last thing you do is ask your shareholders.






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What did Uncle Mel do to us?
 
plastic
post Posted: Oct 11 2018, 07:42 AM
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If there were any real conviction to get this deal over the line they would've made sure they could get the shareholder approvals at the AGM. Instead the AGM comes and goes and then they say they have filed some draft documents with the NZX for their approval.

Which means there is no guarantee this will get across the line whether shareholders approve it or not because it depends on NZX approval first. Seems a bit like the cart before the horse. What difference does it make what the shareholders say or think when it all depends on the NZX?

With the action taken recently against the NZX it sounds like they have enough to deal with and with what has been revealed, it has to be asked, just whose interests are they furthering when they review the documentation? It certainly won't be TRS shareholders' interests.



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What did Uncle Mel do to us?
 
 


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