Just reading the last extension document - is it my correct understanding that the additional US$5million from HEI is not required for the takeover? I thought the original $15m was all that we were waiting for and this is an additional $5m being disclosed? They also mention in a clause that the meeting of shareholders for CZA approved the YBI share issue, will they need to requisition another meeting to approve the equity subscriptions by Hengshun and the other entity - Summer Trees Pte Ltd?:
2.4 In addition, as announced on 4 March 2016, CoAL has entered into a subscription agreementto:
with Haohua Energy International (Hong Kong) Resource Co. Limited (“HEI”), pursuant to
which HEI has agreed to subscribe for 114,942,528 new CoAL Shares, to raise US$5 million.
Given the extensions of the Offer Period, HEI and CoAL have agreed that the subscription cutoff
date for HEI’s investment will be extended to 31 August 2016. HEI’s subscription is subject
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