Ann: Cockatoo Island Joint Venture Acquisition , page-15

re: Ann: Cockatoo Island Joint Venture Acquis... Looks like WEG have a touch of the $hort$ maybe SS&T have called in the loan : )

In reality WEG only stumped up around $18m from memory buying their stock at 35.5c they got gifted 50% of Cockatoo for arranging the loan for PLV to buy it for $20m.

So if I have this right PLV are now looking at paying $21m to get back full ownership of something they only paid $20m for in the first instance - On face value getting rid of 50m shares of the register would appear to a win but given they sold them at 35c and will have to now place them at 8c to get the $21m it seems like a less than Stella result for shareholders.

As always entertaining to watch the PLV twists and turns