That's my understanding yes, clearly the spring tree placement...

That's my understanding yes, clearly the spring tree placement could be equally complete and we wouldn't know, considering how opaque this information is from a large Shenzhen listed entity.

On another positive note for those whom intend to retain a cza share holding;
David Brown the ceo seems to be positioning the company to fully participate in the South African ipp program.
During his Time at implats he tenfolded the per share value of that company into a 10 billion dollar organisation.
The puzzle is starting to fit together with historic commercial issues settled, partners aligning, coal price improving slightly, ipp partners soon to be notified, based on last quarterly some movement of universals ncc project and an increasing interest in top quality coking coal ( which is what the southpansberg assets are)
Cza is starting to pull together at the right time in the cycle.
I think the 20 cents and 1 share will turn out to be pretty good for UNV share holders