looks like the most probable way out will be for Cfe to stump up more cash to enable Kupang to pay out Lindholm with cost total will probably be at least 10 mill
6 mill in the bank so cfe will be looking at taking shares in the company for the funds required to get rid of the Lindholm claim.
don't think they will want Lindholm as a shareholder especially as he will drive a hard bargain...he's in the drivers seat..so he thinks.....
Cfe of course needs to conserve cash to cover itself for an unfavourable outcome from the ato....so they need a sale to bring in more cash....
unless of course sage uses his own cash to bail Kupang out of this mess and takes discounted stock 9in his own name)in return ... he won't get a vote on the issue and with only 3 directors on the board and 2 being also on the board of cfe..it will be complicated......may have to go to a shareholder vote....or he takes a convertible note....but still may be construed as a conflict of interests.......
hope sage breaks this losing streak soon.....
CFE Price at posting:
26.5¢ Sentiment: None Disclosure: Held
