MyATM in administration
The directors of MyATM finally called in administrators yesterday. Stephen Duncan of KordaMentha will undertake the administrative task.MyATM sold A$4.6 million in new shares and listed on the ASX in early 2011 with hopes of widening its niche in the supply of automatic teller machines, many of which it sold to investors at the rate of one or two at a time, and with a guaranteed minimum return.AAP quoted Duncan saying that KordaMentha would look to develop a "plan that enhances the future profitability" of the Adelaide-based firm.