CDX cardiex limited

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CDX General Discussion, page-114

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02/04/19

00:04

Post #: 37957651
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Originally posted by TwinTurboCelica ↑

Can someone clear something up for me....

The 3b on the 6th March mentions...

54,616,769 shares issued at $0.03 on receipt of conversion notice for $1,638,503 of the total $2,500,000 facility to C2 Ventures approved by shareholders on 26 February 2019;

This leaves 861,497 notes outstanding.

Yet on the 22 January

On this basis C2V would have a further $1,925,000 in shares issued to it (64,166,667 additional shares at the December 2018 placement price) which would bring the total holding of C2V to 139,166,667 (~19.96% of the Company post issue) immediately after the meeting. The balance of the outstanding facility amount would then be converted at later dates to ensure compliance with the takeover provisions of the Corporations Act 2001

So, it appear c2 (Coops 50% owned company), fell short by about $300,000 on their promised cash.

Also, I have not seen any director notices. If c2 is director owned, are they responsible to issue director notices?

At a bare minimum I would have though substantial holder notices should have been lodged

Expand

Maybe it's best to email the company for clarification. It is a slighty complicated situation due to the nature of the issue of a convertible note as well as the placement. Keeping in mind that it was done for the benefit of shareholders to make sure they could meet the financial commitments for the Inhealth transaction on time. I don't believe they have short changed the initial investment in any way.

Cheers

CDX Price at posting: 4.0¢ Sentiment: Buy Disclosure: Held
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CDX General Discussion, page-114

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CDX General Discussion, page-114

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