This is massive, massive, massive news something I think the market has not fully digested just yet.
Resolution 8 issue of shares to a related party.
BEE transaction.
What we essentially have here is a new BEE partner coming in and repaying the intercompany loan in full (Current BEE partners accumulated debt). This results in a capital injection now into CCL of between $20 and $30 million. The only dilution is $5.4 million of equity to Bruce Buthelisi. So essentially Bruce Buthelisi the current BEE partner is selling his 26% stake to a new BEE partner. The only dilution that occurs is $5.4 million or 98,181,819 shares pre consolidation.
Effectively and in simple terms it can be looked at as a capital raising at approximately 6 times the current share price if they get $30 million from the new BEE partner. which also suggests that the new BEE partner will be able to fund their own way going forward in their associated 26% of all costs going forward. This is very important as it reduces the need for Conti to raise all the funding and potential issue of equity going forward.
Also with a cash injection of $ 30 million by a new BEE partner this also gives Conti the funds neccessary to buy out the remaining % of Mashala without having to issue any new shares. Absolutely Brilliant.
Go Conti.
- Forums
- ASX - By Stock
- CCC
- $30million cash coming conti's way
$30million cash coming conti's way, page-4
-
- There are more pages in this discussion • 22 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CCC (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online