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Ann: Appendix 4C - quarterly-CDY.AX, page-14

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grantjo

7,291 Posts.

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01/11/16

09:16

Post #: 20272259
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Originally posted by siren4 ↑

Excellent posts here over recent days; thanks. The pain of the suspense is obvious. I'm in the good outcome belief camp, but its based on the belief that CDY is in the good financial position we've been assured of all year to reject any low ball offer.

As we're told (2016 Annual Report page 13) we have a "...corporate finance specialist" on the Board (Mr Bruce Gordon, appointed 1 July 2015), wouldn't his directorship be untenable if kirsty and others are correct in the view that this private placement has been mismanaged?

I think we can be confident that Maria is working hard to prevent this interested private investor screwing us on issue price. I've said it before, any price below 3.4c would be a nonsense and tantamount to the Board raising the white flag and handing an unwarranted windfall to this forthcoming savvy substantial investor. Then expect a fiery AGM on 21 Nov.

My guess continues to be that Maria will deliver a sound deal at 3.4c to 4.0c from this likely bullying investor. I'd expect her to otherwise walk away from it as early (or as late!) as tomorrow and instead progress sales and research more slowly and sustainably from internal cash flow and better funding.

If there were a private placement at <3.4c (even with a SPP to match), it would be corporate insanity and amount to a breach of faith by the Board and white ant existing shareholders. I can't see that in Maria.

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Well hawk, I guess again your are off the mark. CR at 3 cents

CDY Price at posting: 3.3¢ Sentiment: None Disclosure: Held
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Ann: Appendix 4C - quarterly-CDY.AX, page-14

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