Mikayla
Please correct me if I'm wrong
CCC owns 74% of CCL
CCL is 26% BEE partner and 74% CCC
BEE stake sold for $30million
therefore CCC stake valued at $86 million
How do you get a value of 6 times?
It looks like a discount to the current M/C by about 20%
IMHO
The new BEE partner has agreed to fund the development of Penumbra, great deal.
The placement to Bruce looks like walkaway money to sell his stake.
On a side issue
To those that have access to share register what is the current holdings of those that received shares? or where they the sellers into the last run.
The post ratification of these issues is clearing the decks for a new series of placement's, couldn't they wait until November when the 12 months expires.
More CR's coming soon
Regards
$30million cash coming conti's way, page-9
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