ccc village main tranaction bank now approved, page-23

Anch.
My guess is this.

(i) During the half year the Group issued $1,800,000 of convertible notes in six tranches of $300,000. The notes
are non-interest bearing and convertible at the option of the holder at any stage between their issue date and
their 30 June 2014 redemption date at 80% of the lowest daily VWAP in the 10 trading days before conversion.
The tranches were converted throughout the half-year with the entire $1,800,000 being converted prior to 31
December 2012. The Group has issued a total of 3,015,334 fully paid ordinary shares having a total value of
$108,000 to the investors as consideration for the convertible note facility provided to the Group.

If you look at my chart on this thread (Post #: 9309430) you will see the last little conversion was done at around the 4.2c mark.

$1,800,000 div by 42,102,894 =4.2c

Which means not only does it seem they have pushed the price down to convert. It had a the added bonus of also shaking small holders loose, as 5.2c started to look really good to them.

What a lovely bunch they are.


Note: what happened after the last conversion.
Pump de dump coming me thinks.