Mota-Engil Africa Pulls IPO, page-46

Cash on hand is going to be the next drama. I reckon they have burnt through at least 10 million for the quarter and with only 26 million left at the end of March I'd suggest they only have around 16 million on hand as of June 30. So it is just a matter of when for the capital raising now and I also expect the money to be raised at a big discount to market this timeas it has been in the past so could we be looking at a raising in the high 5's to low 6's region.