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Is this the most ridiculous sentence ever written?, page-17

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Dumas

175 Posts.

25/10/17

12:45

Post #: 28180110
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Originally posted by AllFuelledUp ↑

No I don't see why their holding would have to go onto the market in the event of a no CTN vote. NAOS unit holders wouldn't have bought CGA shares, the fund managers did.

As for who is paying it, I would expect NAOS to do a placement to the central stockbroker to fund it. Again, NAOS have been better off dealing with CTN board in this, as would the CTN board.

But NAOS bought up to 13% of CGA right, so if CGA go under, then NAOS write off a pretty sizable investment. Better for them to send money to CGA and sell out of their position while they can, while it is still worth something.

Comes back to your question of which account is funding this, and isn't this protecting NAOS as much as CGA? Everyone seems conflicted, with CTN shareholders the afterthought

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No way CTN Board and authorities could just sit there if management of CTN portfolio went back to CGA Given CGA has now ADMITTED it can't deliver a good Micro return for CTN! And No way NAOS ( whichever ? ) purchase can have been based on a non refundable deposit -- Why would NAOS or its funds pay $2m w/o that protection, and run any risk of a new IMA getting rejected. Yet CGA announcement only refers to conditions on the balance of the $6m, and the later year payments - more hot air?
DYOR

CGA Price at posting: 80.0¢ Sentiment: None Disclosure: Not Held
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