CDU 0.00% 23.5¢ cudeco limited

quarterly out, page-84

  1. 15,745 Posts.
    going,

    Try reading point 3.2 on page 24 of the Prospectus document which was issued as an ASX announcement on 18/11/13, well after that initial two week period was up.

    On 18/11/13 CDU states that the company has accepted the offer from Minsheng but that "the offer remains subject to final approvals by Minsheng bank as well as finalisation and execution of definitive loan and security documentation."

    CDU also states in that prospectus, that all will be finalised in the next 4 weeks. i.e. by about December 18th 2013.

    No further announcement has come out on this. Its pretty clear on the reading of the prospectus and lack of stuff in any subsequent announcement that Minsheng has not as yet provided its final approval and the documentation has not yet been completed.

    The prospectus goes on to say that "The offer also requires various security interests to be granted to Minsheng bank, including over the assets of the Company and sales revenue."

    Its clear that this has not yet taken place as such a security interest would need to be clearly announced as its very significant.

    DYOR and follow all the detail of what has been announced on this. For some reason CDU appear to be taking a very coy approach on where all of this is at.
 
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