I just noticed that the above would exceed the 25% placement allowed by the CCU management.
A more probable outcome would be :
- CBA converts $7m of loan to CCU shares bought at $0.085.
- In which case CCU sheds $7m of outstanding debt ($23m -> $16m)
- Total CCU shares becomes 329m -> 411m
- Shares diluted 25%
- SP becomes : $0.085
- CBA gives CCU more time to stabilize production with a more realistic repayment schedule for outstanding loan
- Potentially existing shareholders will be able to participate in a Share Purchase Plan.
Again, just trying to anticipate.
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when can ccu repay its debts??, page-9
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