interesting timing

I may be somewhat cynical but I could not help but notice the significant discrepancies in the performance milestone dates for performance shares being voted on today at the general meeting compared to the dates detailed in the BFS. Whilst these dates compare to the same milestones attached to rights allocated to Gene Wusaty’s and Denis Turcotte in June, according to BFS guidance they won’t be achieved. With today’s allocation Directors Murray, Mayers, Rodda, Turcotte and Breese all have 100,000 each and Gene has 600,000. Here’s the real kicker. Once the performance rights are approved by shareholders they ALL automatically vest in the event of a takeover, regardless of milestone dates, according to the General Meeting documents for the 10th June 2011 meeting.

Very interesting timing for a general meeting to approve the issue of performance shares the majority of which won’t meet performance milestones!!! Given Mantra Resources did the same less than a month before their takeover I am now suggesting CPL/CPT will be under a takeover within the next 1-3 months.

DYOR

Regards

Danash

Will comment of BFS once I have had time to digest.