ccc not bending over for the con note holders, page-15

If you go back to the 13 August 'Notice Of Meeting and Prospectus', you'll see the following in relation to the Convertible Notes.

"The maximum number of securities to be issued by the Company, in the event the Notes are converted (for the full amount) into Shares is as follows:
(i) up to 312,500,000 Shares for the amount of the Notes; and
(ii) up to 93,750,000 Shares where the Coupon payable is converted into Shares (at the conversion price of 8 cents per Share);
(iii) up to 62,500,000 Note Options"

So it would appear, from the information that has now bubbled to the surface, that CCC may have decided to rely on a placement to Sophisticated Investors rather than the Convertible Notes to raise the remaining funds needed to finalise the Mashala acquisition.

If this is the case then it's merely an alternative means of capital raising, and not an additional one. It will also mean no additional shares will be released, as it was always planned to release the 312,500,000 for the Notes.

Quite possibly, even, it could mean less new shares to be issued, as the extra shares and Note Options may no longer be part of the financing deal.

So in a nutshell it appears the end result has not altered significantly, it just looks like we are getting there by a slightly different route.

Now if only this could have all been communicated by the company we'd have all been able to enjoy that brief moment away from our computers!!