Good morning everyone,
From AGM this week: I quote
"Resolution 10 Conversion of CCM Pty Ltd loan to equity.
The conversion of this $A200,000 loan to equity at $0.00375 per share is
part of the cash management plan for 2011.
I propose
?That the conversion of the $A200,000 CCM Pty Limited loan to equity (to be
converted at a value of $A0.00375 and to be undertaken by 31 December 2010
unless the loan is repaid by that date) be approved.?
*********************
I agree with everyone comments here, the thing that is interesting is that Custonial Capital Management is happy to have their debt of $200 grand paid back in shares of a shell company. I guess this means that they are happy where the future company is heading!!
Any thoughts!!!!
Cheers
volume!, page-15
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