those options, page-9

factfinder,

di took up shares in the recent placement at 14c and now that cxy couldn't manage to attract a more favourable financing arrangement they have had to resort to an agreement with di over ALL the future capital requirements.

so here's a question.

even if there was a fundamental reason for the cxy share price to rise, what is the incentive for di to allow the share price to rise????

di have an agreement with cxy to raise $30 million at years end but i would have thought that they would benefit from keeping the share price at nearer 20c and issue 150 million shares rather than 60 million at 50c for example.

would it be fair to say that cougar uk are the main beneficiary of a deal with a company (di) that is active in those markets that cougar uk are exposed to?

it just seems that len has coughed up control of cxy whilst exposing cougar uk to any potential upside that di may expose them to in the future.

is len the winner at cxy's expense?

cheers