TJM going broke

Read all the reports, the major shareholders have already attempted to close them once in court.

where?

Read them where??

Geoff this is what I think he is refering to.
Nothing to do with its trading results it was a dispute over voting rights by certain classes of shareholders.



Trojan Equity Limited (TJN) owns 3,088,000 CMI Limited (CMI) Class A shares
(CMIPC).
On 24 December 2008, TJN made an application to the Supreme Court seeking
clarification of the voting rights of CMIPC shares. This application was unsuccessful.
On 12 June 2009, TJN lodged an appeal against the Supreme Court judgement.
Separately, on 15 June 2009, TJN requisitioned a general meeting of CMI
shareholders to consider a special resolution to voluntarily wind up CMI.
TJN notes the announcement by CMI on 31 July 2009, stating its intention to call a
meeting of CMI shareholders to approve a buyback of all CMIPC shares at $0.63 per
share. TJN advises that it has entered into an agreement with CMI to support the
CMIPC buyback and vote in favour of the relevant resolutions.
Given the proposed CMIPC buyback, TJN has decided to discontinue its appeal and
not to pursue the voluntary winding up of CMI at this time.
TJN is hopeful that the CMIPC buyback will be successful and will provide TJN with
the opportunity to exit our holding in CMIPC at a price approximately double where
CMIPC shares were trading prior to the announcement of the proposed buyback.

ahh thats a lot clearer

they are owned by CMI which is listed with ASX

Today 60c

Donks1

Correct!!
TJM is a division of CMI, maybe I was being a bit to pedantic. :-)

With assets of over $35 million and Liabilities of less than $10 million.
2009 after tax loss of $1.5 million after write downs of nearly $9.5 million its a bit difficult to suggest they are going broke.

Gee Stephen, that's the last place I would look for accurate info on a stock.

Cheers.

:-)

Yeah, I know Willie, but it's a haven for whingers.

Kim they will most likely have a store they own which operates under a franchised arrangement under the TJM brand.

"IF" the TJM brand was to fall over (which I doubt) they would probably remain in the business under another name.

"""IF" the TJM brand was to fall over (which I doubt) they would probably remain in the business under another name. ""

Spot on John,The guys at Outback Accessories in Seaford hav been great,they are a franchise of TJM as i understand it..

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