Ann: Change of Address, page-33

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coppernoob

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08/07/19

14:17

Post #: 39421833
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Originally posted by rusch: ↑

Well lets see - on the 31st of July 2018 Carnegie made a market senstive announcement of its Enel collaboration and Enel's investment in Carnegie specifically for CETO and Albany:
- Carnegie and Enel Green Power to collaborate on wave energy
- €1 million (AU$1.6 million) investment by Enel Green Power
- Collaboration focused on CETO 6, Albany and Wave Energy Research Centre
- Collaboration extends to pursuing international opportunities for CETO

Two subsequent 'update' announcements reassuring shareholders that Enel was about to lose... err... hand over... ~AUD1.6M because Carnegie has met some (commercially sensitive) undisclosed milestone, which I think must have been a day-trip down to Albany to show them where the wave-hub wasn't going to be built (aka 'some coastline that was easy to drive to').

At a guess Enel and Carnegie are no longer a couple but certainly Carnegie would have to announce if that happened, particularly if it returned the money Enel gave to it (and maybe it has made that announcement?). If Enel withdrew and took its money, and Carnegie did not advise the market, given the state of affairs, it would be extremely market/price sensitive and a fairly major breech of listing/continuous disclosure rules (unless they don't apply when they are suspended and in Administration?).

No doubt Carnegie will transparently update the market on the Enel collaboration in their prospectus... no doubt!

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As far as I have been able to work out, whilst in VA such things have to be disclosed to creditors, but not the market. Anyone able to confirm or correct that?

CCE Price at posting: 0.4¢ Sentiment: None Disclosure: Held
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