mc placed the shares in the recent cap raising and they placed some of them with di.
robmillion,
1/ cougar uk have the rights to any projects in india, pakistan, china and europe.
2/ cougar uk is len walkers private company.
3/ cxy own 48% of cougar uk.
4/ so len owns 52% of cougar uk.
5/ len controls both cxy and cougar uk.
so what does this mean....
there really isn't an incentive for len to manage the capital requirements of cxy in a way that is in the very best interest of cxy shareholders....i'm not saying he is doing the dirty on shareholders but there is no incentive not to.
len (cougar uk) will benefit from the di arrangement regardless of whether the $30 million and $250 million is raised at 20c or $20.
cougar uk will be unaffected by any future events at cxy such as major dilution or an "opportunistic" takeover offer.
the fact is cougar uk stand to benefit if di get serious about ucg in india, pakistan, europe or china and what happens to cxy is inconsequential to len because cougar uk would be a major beneficiary.
cheers
CXY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
