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MUL - Multiemedia Limited

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Re: MUL - Where to from here?

IcUrPoint said:
thank you for the link - more bad news for MUL
Click to expand...
I read the judgement, and it looks like most of the matters have been settled out of court, except the judgement that MUL now has to disclose legal advice pertaining to an ASX release stating they thought they would win the matters that were actually resolved out of court.

Who gives a merde? Or am I missing something? (not that I hold MUL).
Cheers, Mark.
 
Re: MUL - Where to from here?

Good try Markmau....... :rolleyes:

I've been advised that NOTHING has been settled yet whatsoever so I don't know where you got that information from?????
The trial is still locked-in for Wednesday 23 November against BOTH
MUL, and Ballintine as a personal co-defendent.

We should all try and get along to see it although no ones going to miss-out on what'll happen because it's going to be reported on TV and in the Herald Sun and Financial Review, similar to the case that's been reported in the past 2 weeks about the ex-Neighbours actor. All the publicity is going to happen because it's a company that Vizard used to be a director of.

Let's just see what happens this week with the Rights Issue and the Newskies purchase....... :eek:
 
Re: MUL - Where to from here?

lescent said:
Good try Markmau....... :rolleyes:

I've been advised that NOTHING has been settled yet whatsoever so I don't know where you got that information from?????
Click to expand...

Actually, I read the judgement....

http://www.austlii.edu.au/au/cases/vic/VSC/2005/425.html said:
2 By a summons filed 17 August 2005 the plaintiffs sought a variety of orders. All of the matters the subject of that summons have been resolved with the exception of an application by the plaintiffs for inspection of all documents constituting or recording legal advice referred to in an announcement by Multiemedia to the Australian Stock Exchange ("ASX") on 7 April 2005.
Click to expand...

*** Unless this was only a small part of the case?
 
Re: MUL - Where to from here?

lescent said:
Originally Posted by pro-MUL, Rights Issue Purchaser - Bingo........ :confused:
Aaahhh Bingo....yes unfortunately you have got it right wrong.
Go back to the Prospectus and other announcements and re-read them and you'll hopefully see the light of day.

In a nutshell, MUL are attempting to buy a business via dilutory equity and instead of owning that business outright as you'd expect after paying top dollar for it, that's NOT the case at all. Newskies will still have a fixed and floating charge over the business for another 5 years even though they won't legally own the business if the transaction finalises on 8/11/05.

If you don't see that as odd ????????

:rolleyes:
Click to expand...


Your earlier post said they making the purchase with "100% debt", now you say they are using "dilutory equity". Is this a special type of equity, or do you mean what I said ie they issued shares and used cash to pay for the purchase.
 
Re: MUL - Where to from here?

Markmau advises:*** Unless this was only a small part of the case? :rolleyes:

Yes, you're spot-on, only one part of a multi-facetted court case
which goes to Trial on 23/11/05.

What about this Tuesday and the finalisation of the Newskies purchase????
 
Re: MUL - Where to from here?

Bingo is still confused.....Your earlier post said they making the purchase with "100% debt", now you say they are using "dilutory equity". Is this a special type of equity, or do you mean what I said ie they issued shares and used cash to pay for the purchase. :confused:

You're not reading the posts correctly....please go back to #991 and try again.

Always do your research carefully. ;)
 
Re: MUL - Where to from here?

lescent said:
ICURPOINT here's the Supreme Court Judgement AGAINST MUL.... ;)

Please login to:

www.austlii.edu.au/au/cases/vic/VSC/2005/425.html

Think about it, how would you feel if you paid top dollar for a business with
nearly 100% borrowed money (ie. shareholders money), and then AFTER you'd paid FULL price for the business, the seller then STILL had a mortgage over the business for another 5 years?????

It's the most preposterous deal I've ever heard of !!! :swear:
Click to expand...

991 is a nice diagram by Kauri but it dosn't help. I don't think I'm confused but you are.
 
Re: MUL - Where to from here?

Thank you, that's the one I quoted.

It will be interesting next week re the share issue.
 
Re: MUL - Where to from here?

I think that the lack of any announcement on result of share issue that closed last friday is a bad sign.

If they got away an announcement would potentially push the price up.
 
Re: MUL - Where to from here?

Well MUL successfully closes rights issue with applications in excess of $13M. You would expect this to push the price up to-morrow.

Good luck to all those who had the courage to stay with them.
 
Re: MUL - Where to from here?

Hmmm...wish ah could've waited a bit longer to sell my shares at 1.6 cents. Oh well, I'm glad I could get out of this dog anyway.
 
Re: MUL - Where to from here?

hmmmm - not sure if you would call it successful. They had planned on raising over $15 mil and only managed to raise $13 mil even though (as it states in the terms of the rights issue) in the event of undersubscription they offered the extra shares to "..... shareholders who accept their entitlement in full and applied for additional New Shares and ANY OTHER PERSON IN AUSTRALIA". It seems they couldn't find anyone else in Australia to take the shares!

The only place I can see a reference to a minimum raising is in today's announcement. To me it looks like another spin job.

You may be right - the share price may kick up over the next few days or even a week or so but overall I think I agree with other sentiments on this forum. The management of this company are only in it for themselves and I still cant believe that ASIC is still allowing them to operate. I guess it just highlights the real protection that ASIC provides for investors.

malachii
 
Re: MUL - Where to from here?

Had not noticed the missing $2M. I agree with your view of the management, however, I assume that MUL should now at least be profitable and this will keep the speculation running from time to time.

I actually sold the last of my MUL at 1.7c just before the issue closed (the first time that is) when their was a little spike and then applied for my entitlement and additional shares to restore my holding. I must be at better off than if I had held.


On the other hand buying back in may or may not be a smart move. I will exit for good if the prise rises sufficiently.
 
Re: MUL - Where to from here?

Re the missing $2.0M. Just wondering if the shortfall in $ could be a result of the issue of the shortfall at a lower price than 1.5c.

They seemed to have complete discretion in the prospectus. Can they issue the shortfall to some special people at different prices than shareholders?

Anyone know?
 
Re: MUL - Where to from here?

Appendix 3B today says there were 15M shares at about 1.5c apiece, no low selling, no underfilling.

Sometimes reading this thread is like running your fingernails over a blackboard. I'm not a great fan of MUL - in fact the whole company looks a little dubious - but the naysayers seem to be drowning out the middle-of-the-road types like myself who aren't so emotional about their shares (or losses).
 
Re: MUL - Where to from here?

Strange one that - dont know why they have a difference. Ann the other day says they achieved in excess of min $13 mil and today the 3B states they sold 989,430,139 ($14.8 mil). Same but different????

Strange!!

malachii
 
Re: MUL - Where to from here?

The issue papers would indicate that they got the issue away at 1.5c, however a large late sale to-day at 1.4c would tend to indicate to me that someone got them cheaper and was cashing in.

Something a bit odd?
 
Re: MUL - Where to from here?

Yeah, I'd agree. Must have flogged off a few cheapies. Oh well, at least they're not killing the next uptick - pretty slim upside. :)
 
Re: MUL - Where to from here?lescent

lescent said:
ICURPOINT here's the Supreme Court Judgement AGAINST MUL....
Click to expand...

hi lescent

I was wondering if you are aware of any update in the swichcorp Vs. MUL and Ballantine case??

regards

P
 
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