Well CDU holders are certainly fairing a lot better than some ! at least the last CDU placement was at $1.25 - I reckon the Cockatoo Coall Holders ( COK ) are feeling somewhat shell shocked by their up coming dilution for a tiny 63 billion share issue to raise $125m at just a small 86% discount - LOL ! go the stockmarket
Equity Raising Cockatoo is today announcing a $125 million accelerated renounceable pro-rata entitlement offer of new fully paid ordinary shares. The issue price is $0.002 shares at an entitlement ratio of 13.7 new shares for each share held.
The rights issue is fully underwritten by BBY Limited, supported through sub-underwriting by major existing shareholders, Noble and Harum and a new US based investor Liberty Metals & Mining. Based on the 12 November 2014 closing price of ¢1.4/share, the rights issue price of ¢ 0.2/s would represent: A 86% discount to closing share price; and A 29% discount to theoretical ex-rights price (based on closing share price on 12 November 2014)
Suspension continues !, page-130
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