. Convertable Notes: 53,649,667 Ordinary Shares @ $0.175 per share totalling $9,388,692 converted on 6 June 2008;
2. Top 20 dated 12 June 2008:
ANZ NOMINEES LIMITED 77,929,175 Shares an increase of the order of 50M shares
3. 10m$ Hawkswood debt
I would suspect that this convertable loan does relate to some debt owed and paid relating to the receivers appointed by ANZ to Opes Prime/Hawkswood. The $10M had to be eventually repaid. The most logical source of funds was by new shares/convertable notes if no new source of funds could be obtained. It is not likely that Shougang would have provided a LOC to repay an existing debt.
The repayment of this debt (assuming it is the Hawkswod $10M) may explain the rerating in ADY this week as it removes one level of uncertainity regarding ADY.
Regards
SP
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Last
0.6¢ |
Change
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Mkt cap ! $15.77M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33 | 0.6¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 788295 | 2 |
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