From the PWC report; "The next 2 months" (para1). What has happened with the Diamonds (para2)Who are the major holders in Pensador (para3)
Pensador is a holding company that is being used as a vehicle to raise finance to fulfil the core objectives required to participate in the development of Angola’s mineral and oil and gas resources. Pensador is currently raising US$1.1billion of capital to finance its own and CityView’s initiatives. It is envisaged that the fundraising process will be concluded within the next 2 months. Most recently CityView has entered into an agreement with Pensador, under which CityView transfers the benefit of certain rights and opportunities in Angola to Pensador in return for shares of Pensador at a consideration of US$ 84million (4.2 million shares) and a 10% NPI in two alluvial diamond concessions. CityView has also agreed with the major shareholders in Pensador for them to sell their shares for CityView shares and support a merger of Pensador with CityView.
CVI Price at posting:
4.1¢ Sentiment: None Disclosure: Not Held