RE: Dilution on the Cards ?28 Oct 2021 13:26
The GM was last Monday, no feededback but best guess all resolutions passed (Jubilee 29% remember).
Share "consolidation" 30 - 1 will happen early Nov.
Jubillee's 29% will not change.
£1.5m for listing maybe before year end, already running late! No idea how many shares that represents but unless Jubilee invest heavily in the new shares their % will be be reduced quite considerably from the current 29.
Royalty, which as far as I know has never been published or made available to shareholders, will simply disappear which is what CB wanted all along. Any and all questions re the Royalty have been met with obfuscation and excuses.
CB has stated that they expect no income, from the Royalty, in the midterm but with no definition of what midterm is!
If I am wrong, the Royalty will be diluted from the existing number of shareholders to a vastly increased number of shareholders after the new listing, thus making the Royalty worth a microscopically small amount to existing shareholders!
Jubillee wont care as they already have the assets!
Anyone care to argue?
What you also have to bear in mind that CB has many directorships. Public companies, AFP, BZT, GLR, JLP, TIR & XTR. I don't include Kendrick as the shares are suspended, but he is still a director! There are then atleast 10 (pty) ltd companies listed. Basically "private" companies. All this information is in the public domain and I don't suggest anything underhand. What I do question is how one man can "manage" 6 public companies and why does he need 10 private companies?
My views.
E&OE
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