The article is confusing in that it talks about the former owners of Henty, being Unity Mining not appearing. However, Henty is still owned by Unity Mining, which is now 100% owned by CYL who acquired the shares in the company from Diversified Minerals Pty Ltd when it acquired the mine in January 2021.
Diversified is 100% owned by the Rouse family who also own Pybar Mining Services. So I'm not clear as to whether it was CYL or the Rouses who failed to appear. Diversified is required under the January 2021 share purchase agreement to indemnify CYL for any costs or penalties to Unity as a result of this hearing. $1.2m was withheld from the consideration paid to Diversified to cover these indemnification costs.
What I'm more concerned about is the 3.5 million CYL shares that will be released from voluntary escrow on 20 January 2024. These shares were valued at $2.10 each when the transaction was completed which is over double the existing the share
price, so have to hope they don't get dumped on the market to recover their monies ASAP.
The article is confusing in that it talks about the former...
Add CYL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.16 |
Change
-0.020(1.69%) |
Mkt cap ! $257.0M | |||
| Open | High | Low | Value | Volume |
| $1.18 | $1.19 | $1.15 | $280.6K | 240.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6895 | $1.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.18 | 14743 | 2 |
View Market Depth
| Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.17 |
Change
-0.020 ( 0.43 %) |
||||
| Open | High | Low | Volume | ||
| $1.16 | $1.18 | $1.16 | 15673 | ||
| Last updated 15.43pm 29/05/2024 ? | |||||
| CYL (ASX) Chart |