Reply to @CoryLogics : The announcement by the authorities only made reference to simulated financial statements. I think the authorities needs to provide more information especially the bases of its decisions.
The authorities turned down the listing of new Noble just after going through simulated financial statements based on various scenarios to determine valuation. Why made such huge decisions based on simulated financials and causing minority shareholders to be at a loss of what to do? Did the authorities not realize that the New Noble has a viable business? The financial statement may be subjective but it does not mean that the company has no value or without a viable business. Now that the New Noble could not be listed and may become a private company, how would the minority shareholders recover their monies?
Maybe it is because of the fear of more retailers being sucked into the new structure with the key people still holding the decision making ?
Reply to @CoryLogics : The announcement by the authorities only made reference to simulated financial statements. I think the authorities needs to provide more information especially the bases of its decisions.
The authorities turned down the listing of new Noble just after going through simulated financial statements based on various scenarios to determine valuation. Why made such huge decisions based on simulated financials and causing minority shareholders to be at a loss of what to do? Did the authorities not realize that the New Noble has a viable business? The financial statement may be subjective but it does not mean that the company has no value or without a viable business. Now that the New Noble could not be listed and may become a private company, how would the minority shareholders recover their monies?
Sad day for minority shareholders!!