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23.5¢ cudeco limited

Ann: Trading Halt, page-2

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hottuna

3,053 Posts.

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30/06/15

11:07

Post #: 15554017
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63m against the share issue to FSHL, 87.5m against the option issue... now halted!

At a General Meeting of Shareholders held today, the Shareholders voted not to approve the capital raisings proposed by the Company. The funds from these capital raisings was required to fund the completion of the capital works for the Rocklands Copper Project and provide sufficient working capital for the Listing of the Company on the Hong Kong Stock Exchange.
The Company expects to finalise a smaller capital raising this week and is also meeting on 2 July 2015 with the major shareholders of the Company to consider further funding options for the Company.
Due to the obvious continuance of financing required and the uncertainty facing the Company we believe it is important that the trading halt is provided to allow for a definitive and informative announcement to be made to the market at the appropriate time. Any reinstatement of trading prior to this information being able to be provided would result in trading occuring in a market not fully and properly informed. The planning is essential to the Company’s financial viability as it seeks funding to complete the final works before mining production commences and the Company can generate income.

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CDU Price at posting: $1.70 Sentiment: Sell Disclosure: Held
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