+ data and comment +, page-5

re: + curnamona energy ipo - priority offer detail From previous post:

"The IPO is planned to raise approximately $4.4 million through an offer of approximately 22 million shares at an issue price of 20 cents, with a minimum subscription of $2.2 million. The offer is not underwritten.

Shareholders in Havilah Resources will have priority to participate in the IPO on the basis of 1 new Curnamona Energy share for every 5 HavilahResources shares held at the close of business on the record date of 18
February 2005".

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There are 69.6 mill shares and a few options. I am not too sure if these late options will be converted.

Let us say there are 70 mill shares. On the basis of 1:5, the priority issue is for 14 mill shares @ 20 cents for $2.8 mill.

They want to raise 22 mill shares for $4.4 mill, so another 8 mill shares @ 20 cents will be accepted-unless they accept more?

THIS ONE WILL GO.


Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.