pref shares

Announcements late yesterday tell us that with $2.3m of debentures to be redeemed, ACC will issue up to $9m of preference shares of which $5m is fully underwritten. That means MSC will have at least $2.7m of additional cash to roll out Kaocem. All good news and I expect orders for Kaocem blocks will start to trickle in after the new year. My guess is by February we will see a build up of momentum in sales.