BJDVT...Thanks for your response mate and it confirms 2 items of this post exactly.
1. The "shadow book" is just that and it was not formalised according to what I was told! There is currently I believe a dispute with persons/brokers involved.( An International Investment bank, with an office in HKG. This week, they were offered a piece (not sure how large) of $25m in ordinary CCC shares "at between 5.5 and 6.5 cents".
Because of the damage that it would do to CCC the 5.5 issue was rejected outright. This was the 5 million in question that the insto's were trying to take balance of power with and get a much cheaper deal for their conversion. Hence my earlier comments about the " Three Amigo's"
2. Also explaining the 5-10 million to override the necessity to do any further deals with the insto's involved.
As I said earlier very clever CCC
Cheers
IMHO DYOR
CCC Price at posting:
77.0¢ Sentiment: LT Buy Disclosure: Held