Australian shareholders have been bowled out by the South African's. Agreements signed with South African entities which prevent any upstream of cash (SIOC agreement,ABSA loan).
SIOC own 26% of CCLSA - CCLSA owns 84% of Masahla yet it is CCC that has to find the remaining $8m. Another great deal no doubt ? Just like SIOC assuming the old BEE loan with the remaining balance of 75m zar to be paid when...next century or never ?
