So I understand by the company's announcement today that Winshine has not put its $4.35M in for the shares and options, as indicated was going to happen, by the company on 19th and 24th Dec. What I don't understand are Mr Bass's answers to the ASX queries, Nos 6 and 12 of 29th Nov.
He states in relation to the company's financial position: "CMC has already raised $1.877M from the rights issue. CMC announced on 13 December 2018 a further subscription agreement for $4.35M under the Rights Issue. The total raising to date is $6.227M. "
I thought this implied the money was in their bank account ... Obviously not. Further, is the latest announcement accurate and if so who has taken up these 60,000,000 shares and options? Is this money really in the bank account?
Further, Is the latest announcement accurate and if so who has taken up these 60,000,000 shares and options? Is this money really in the bank account?
This new shareholder now owns about 15% of the company.
CMC Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
