Conti.Coal Share Discussion Threads

[pratt2] 06/6/2016 16:13

Hi everyone. Does this mean then I'm stuck with Conti dud shares in my UK broker account? I m with Interactive Investor who I don't think deals with ASX.

Can someone please advise best course of action? Thanks.

[leslee] 20/5/2016 11:48

UPDATE 11.25am: The Federal Court has appointed provisional liquidators to take control of would-be South African coal miner Continental Coal, rejecting a last ditch attempt by executive director Peter Landau to retain control of the troubled company.



Justice Michael Barker yesterday ordered McGrath Nicol’s Robert Kirman be appointed provisional liquidator of Continental Coal, ahead of a May hearing on a winding up application made by the Australian Securities and Investments Commission.



Justice Barker said that, despite the “frantic and desperate efforts” of Mr Landau to put together a $US5 million rescue package, the company was without proper governance and management. ASIC had alleged that up to $3.3 million was misappropriated from a 2014 capital raising run by Continental Coal.



Affidavits included in Justice Barker’s judgment accused Mr Landau of withdrawing and spending the $3.2 million proceeds of the September raising, when the money should have been held in trust as shares had not been issued to subscribers.



ASIC alleges $932,000 was paid to Mr Landau’s private company, OKAP Ventures. That cash was distributed, including to Mr Landau’s personal accounts. When investors sought the return of $1.9 million, ASIC alleges Mr Landau misappropriated cash from ASX-listed Citation Resources — of which he was a director until January — to make the repayments. ASIC says $1.6 million was transferred from Citation to OKAP in June 2015. OKAP then transferred $486,800 to Continental Coal to help repay subscribers.



Mr Landau did not address those allegations in his own submissions to the Federal Court, but said the fact he had not done so “certainly does not mean that it is conceded”.



The Federal Court has also frozen Mr Landau’s personal assets in a related case brought by ASIC, which returns to court next week.

[queenwood] 15/1/2016 12:23

no news :0

[queenwood] 04/1/2016 15:18

news this week :0)

[queenwood] 13/12/2015 21:02

yes computashare deal with asx, i have transfered my holding, it may take a while but the shares are currently suspended anyway due to a court case involving payments due to cool. so no you cant sell them untill the case is completed hope this helps feel free to post here about cool pratt 2 ile help if i can good luck:0)

[pratt2] 04/12/2015 14:58

Hi all. Need some help here please.

I had, like most of you all, been sucked into these shares couple of years ago whislt it was still listed on the AIM. I'm not really sure what happens to these now? I haven't been following this for a while - since it's listed on the ASX, can we actually transfer these to an online broker that actually trades in ASX shares and still claw back some money off this?

Thanks in advance.

[queenwood] 03/9/2015 07:48

news on asx :0)

[bam bam rubble] 02/9/2015 16:28

The administrators sold their coal assets a few months ago to offset £6m debt.
The proceeds went to creditors and there's still tons of debt left in the plc

[queenwood] 02/9/2015 16:18

oh ye of little faith this will return,when the terms of the buyout are met :0)00

[bam bam rubble] 01/9/2015 16:12

The $11,000 cash left at June is insufficient to cover their debt (-$38 million)

[queenwood] 01/9/2015 14:10

results out today

[queenwood] 01/9/2015 10:35

ile get me coat then :0)

[the stigologist] 01/9/2015 09:01

clueless

queenwood 3 Nov'14 - 13:18 - 4586 of 4606 0 0

results on website. formal offer accepted

queenwood 9 Jan'15 - 11:17 - 4587 of 4606 0 0

start trading fri 16th jan see website for info :0)


queenwood 9 Jan'15 - 14:41 - 4589 of 4606 0 0

no you still own the shares but they are at the moment only worth a fraction of your investment .ime in the same boat .we can only hope the new co make a good investment and the shares rebound .:)

[queenwood] 01/9/2015 08:58

false alarm

[queenwood] 29/8/2015 09:39

hello out there is anyone still holding cool there is to be an update next week and it looks like being a good one GL QW :0)

[racoon river] 06/5/2015 14:18

Not looked in here since ...... I cant remember when.
Needs to 30 bag to break even. Holding worth Au$ 118.

CAPP-XX is helping tho!

[mayroad2] 25/2/2015 10:54

Correction - it has relisted - down 80% to 0.4c

[mayroad2] 25/2/2015 10:06

rns today - initial $5m funding from Ivory Mint and potential future JV's - no word on relisting though

[queenwood] 24/2/2015 12:17

rns on website re shares 23/2/15

[queenwood] 19/2/2015 14:45

no news anywhere atm the 28th feb is the last day for completion hope it comes off :0)

[zorija] 12/2/2015 12:55

Just trying to sort out my tax return for this year. I assume my original investment in Continental Cool is now worthless, but given there is a small
chance they could be relisted then the Inland Revenue will not allow me to
just the original investment as a total write-off i.e. just the original proceeds
to offset any gains.

If they do relist do we know what the ticker will be?

Thanks for any potential help here...

ZZZ