That level of detail is still a mystery even as far as CNP is concerned I believe.
So far we know that 14.9% of stock is to be issued to the banking syndicates with further potential dilution through share issues of 75.2% since the company has stated that the 14.9% for payment of fees will comprise part of total potential share issue of 90.1%.
Here is what we don't know:
1. Whose getting teh shares and in what proportion?
2. Will the shares be issued to 1 single investment vehicle/company that in turn has shareholders within this company that are banks? Or to the banks specifically.
3. If it is one entity, will the shareholdings in this entity be beneficially owned through other entities and/or trust structures so that you cannot determine which banks/lenders own how much of CNP etc. etc.
See, we know the lenders will own 90.1% of the stock (potentially) but we don't know which lenders will own how much.
One things for certain IMHO, if you and your mates owned 90.1% of a very large company and you also lent money to it, would you screw it further on the lending or leave it alone to prosper and see your 90.1% holding drammatically increase in value????
CER Price at posting:
5.9¢ Sentiment: None Disclosure: Held
