"My call of this- We are about to issue of significant amount of shares to Santons (at a premium) to block MB and inject cash into CTP for development and survival- For Santos- this secure the gas to flow down to Moomba and Santos's control of CTP . Also, it doesn't waste too much $$$ from the recent placement as T/O might require 150 millions shares @ 25c = $37,500,000."
It would not take 25 % SPP (Say 100mil shares) from Santos to block MB, we already have a significant voting block ( round 60 mil) , it would only need about another 30 mil and that would give us a total of about 90 mil shares voting our way.
Not every shareholder votes. Assume 60% voted ( about 270 mil ) that reduces the 25% voting block down to 50 mil (balance 200 Mil) so any vote that does not get 75% is doomed.
It is closer to those figures than people think.
So we have an excellent chance of keeping MB at bay.
The secrete is to stand united and keep our nerve.
CB
CTP Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
