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Openn Negotiation Limited ( (AU:OPN) ) just unveiled an announcement.
Openn Negotiation Limited has undergone significant financial restructuring following a period of voluntary administration due to insolvency concerns. The company executed a Deed of Company Arrangement (DOCA) to recapitalize and settle with creditors, which included a share issue and changes in board composition. The recapitalization plan, supported by an Independent Expert’s Report, was deemed fair and reasonable to non-associated shareholders. The company has exited external administration, with new directors and a company secretary appointed, and continues to receive financial support from its major shareholder through unsecured loans. Despite these changes, no substantive business activities occurred during the reported quarter.
More about Openn Negotiation Limited
Openn Negotiation Limited operates in the real estate technology industry, providing digital solutions for property transactions. The company’s primary service involves facilitating transparent and competitive property sales through its online platform.
Technical Sentiment Signal: Sell
For a thorough assessment of OPN stock, go to TipRanks’ Stock Analysis page.