e.g.m. should prove money b4 share issue

At the upcoming EGM, CVI directors should be forced to show definite evidence that cash (A$ equivalent of US$150M) has been banked into CVI as cleared funds BEFORE the share register is allowed to issue the new CVI shares.

Normally a Registry issues new placement shares under direction from the Company Secretary, and they don't actually have to check that the placement money is there.

Prior varification of the money would:

1 - Insure that present shareholders are being diluted, by a REAL 20c per share issue, which is gppd news.

2 - Show that some investors have REALLY bought shares at 20c, and they're therefore more likely to be genuine investors.

3 - Be likely to push CVI's share price up sharply, as it confirms the STORY. The current price would suggest the market doesn't believe the story.


4 - Make it unlikely that a huge sinthetic placement will be dumped out on the market like before.

If this placement is genuine then the company should have no difficulty at all, in doing this for their shareholders. They have everything to gain, and nothing to lose by it.