23 June 2009
The Manager
Company Announcements
ASX Company Announcements Office
SYDNEY NSW 2000
Dear Sir / Madam,
UPDATE ON SHARE TRANSFER
Further to CP1’s announcements on 2 June and 12 June 2009, CP1
has been informed by BLAD Investments No 1 Pty Ltd (“BLAD”), a
related party of Mr Daniel Grollo, and Sandkent Investments Pty Ltd
(“Sandkent”) that they have been unable to reach an agreement
regarding the reacquisition of 42,398,928 shares in CP1 by BLAD
from Sandkent. BLAD and Sandkent have informed CP1 that they
may recommence negotiations in relation to the reacquisition in the
future.
Mr Daniel Grollo and Mr Stephen Scanlon will remain as Non-
Executive Directors of CP1.
Yours faithfully
CP1 Limited
Caroline Lamshed
Company Secretary
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Looks like the buyback deal is off, for the time being. The big question is, why doesn't BLAD (aka Grollos) just buy on market? The sp is cheap enough!!!
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