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2.50%

3.9¢ carnegie clean energy limited

Yeah, by CRs from the same shareholders he didn't want to...

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Chimpbpoy

316 Posts.

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19/07/18

12:49

Post #: 34448055
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Originally posted by Reillyblue ↑

The excuse that MO is using for the need to sell EMC at such a low price is: The amount of capital needed to bring this pipeline to fruition is a burden to CCE shareholders.
This raises the obvious question, how will TAG be able to afford this?

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Yeah, by CRs from the same shareholders he didn't want to "burden". From the announcement of the 28th:

The purchase price for the Energy Made Clean business is to be satisfied by Tag issuing 58,507,377 new fully paid ordinary shares ("Tag Shares") to Carnegie, which shares are to be distributed by Carnegie to the Carnegie shareholders by way of an in-specie distribution. Based on Tag's issued share capital as at the date of this announcement, on completion of the transaction, Carnegie's 11,000+ shareholders will hold approximately 32% of the ordinary shares on issue in Tag Pacific. A capital raising is also planned by Tag Pacific around the time of completion of the transaction.

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So the shares that CCE holders have in this new entity will be immediately diluted, and they will be asked to participate in a CR before the ink has dried on the deal. I will bet money there will be no opportunity for CCE holders to sell their TAG/MPower shares at the issue price beforehand either.

CCE Price at posting: 2.3¢ Sentiment: None Disclosure: Not Held
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Last 3.9¢		Change -0.001(2.50%)		Mkt cap ! $13.91M

Open	High	Low	Value	Volume
4.0¢	4.0¢	3.9¢	$603	15.38K

Buyers (Bids)

No.	Vol.	Price($)
3	609486	3.9¢

Sellers (Offers)

Price($)	Vol.	No.
4.0¢	6497	1

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