So we have OW taking another $30 mill,another $6 mill to Haitong, another $3 mill for shipping so that is $39 mill, plus $13 mill I believe still owed to Sino for the plant so we are now at $52 mill and we have no clarification on whether the electricals will be paid for in cash or shares.
So SB1, AFR have got it right so far. And WM has lost his touch, no premiums on the latest issues.
The Directors of CuDeco Limited (“CuDeco”) are pleased to announce that the company has
entered into a Memorandum of Understanding (MOU) with CuDeco’s largest shareholder, Hong
Kong based, China Oceanwide International Investment Co. Ltd, (“Oceanwide”) whereby
Oceanwide intends to increase its shareholding in CuDeco up to 19.9% subject to receiving FIRB
approval for this increase in shareholding. The total consideration for the purchase of the shares is
up to $A 30,000,000.
CuDeco also advise that it has completed a Share Placement with an investment fund (HaitongAC
Asian Special Opportunities Master Fund) based in Hong Kong for the issue of 4,902,410
fully paid ordinary shares raising $6,152,525. The shares were issued.at $1.255 being 95% of the
weighted average share price for CuDeco over the past ten trading days. The Fund is managed by
Haitong International Securities Group Limited (Stock Code: 665.HK) a subsidiary of Haitong
International Holdings Limited (“Haitong International Holdings”), a company incorporated in
Hong Kong and wholly-owned by Haitong Securities Co., Ltd. (“Haitong Securities”). Haitong
Securities is listed on the Shanghai Stock Exchange and disallowed of Hong Kong (Stock
Code: 600837.SH; 6837.HK) and is one of the leading securities companies in China in terms of
total assets and net asset. Haitong Securities provides comprehensive financial services for over
4.6 million retail clients as well as over 12,000 institutional and high net worth clients with more
than 240 sales offices spreading across nearly 30 provinces in the country.
The Company has also negotiated a placement with international shipping, logistical and
transportation Company for 2,433,830 fully paid ordinary shares at $1.30 to pay $3,163,979 for
services provided in the transporting from China to Rocklands, the final major components of
plant required for its Rockland’s project.
Attached is an Appendix 3B to reflect the above placement
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