aud 30 cents, page-10

"Subject to shareholder approval CityView has agreed to increase its holding in Fortitude to 36,150,520 shares (63.9%) through an exchange of 13,521,635 Fortitude shares on a one for five basis equivalent to US$0.278 for each CityView share (being approximately Aus30 cents per CityView share)."


Correct me if I'm wrong, does this mean CVI will have to give Fortitude 5 CVI shares for each Fortitude share?


If so where are they going to get 65 million CVI shares from?

Or am I reading this completley wrong?

cheers