A project to build a toll road from Brisbane city to the Brisbane airport in Queensland Australia , has come unstuck after BrisConnections largest unit holder, Nick Bolton , has convened a meeting to have the company,BrisConnection wound up.
BrisConnections is a company that was setup to fund,build and manage the Aus$4.8 Billion dollar Airport Link project. The company was floated on the stock exchange with the requirement that shareholders had to pay two $1 dollar additional installments for every share at a later date. When the shares came on to the market they tanked their value dropping to (Aus$) 1c a share.
Investors who have shares that are virtually worthless now have to pay an Additional $2 for every share they own. Nick Bolton is now in the enviable position of deciding the future of the company and
he has an exit strategy. http://www.businessday.com.au/business/old-friends-prove-to-be-best-friends-20090323-97jp.html