I expect you are right on the money speckyraider. For the larger shareholders who have plenty of cash or can arbitrage, the offer of $15,000 worth of shares is absolutely nothing.
I am quite a large shareholder and to be offered $15,000 worth of shares is great, but restrictive.
Because the price held above the 6.7 cents SPP, at anytime over the past 2-3 weeks I could have and did sell into the market. It was a simple calculation to offload shares into the market at 7 cents and then transfer the money directly to Carnegie to help with their $$ raising efforts.
The halt until Thursday interests me though as it is not a date that is technically relevant to the Top 100 shareholders, I find.
UIL 5% also comes out of escrow in May and should prove interesting to see what they do.
This SPP, with such promise of great things (& income) to come, should prove interesting to see who puts up the big $$$, I anticipate will be offered to Carnegie.
All just my opinion though....
CCE Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
