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May well jump back in post divi but hands firmly sat on atmosphere.
Thanks for your post Lolster, any info is welcome imo.
I smell a bit of underhanded dilution!
Thanks Konar, that makes sense.
There are 2 tiers and CSE, maybe it's the CSE to which SB referring although it really is a minnow exchange.
Also Sandey Wang former Cindrigo CFO is now CIC Capital CFO....hmm.
Inge Leutscher former Cindrigo Independent Director and Chairperson of Audit Committee is now an Independent Director of CIC Capital.
Highly rated by SB... check her out.
Would I be right in assuming that in order for us to receive common shares as a dividend in Specie CIC fund would need to be listed?
From memory CIC Fund (a closed end fund) was the sole destination for these shares.
Looks like the show has finally hit the road, pressure is now on SB to deliver... good luck to him and his colleagues.
I'd except that if it was in stone Diddy!
Thanks for sharing your email mac.
That's a little over sceptical CM.
I agree there are parallels but cash (up front) is being generated in conjuction with shares. I guess the theory is cash to fund the listing, shares go in the kitty.
Can't considered the nav until the individual companies are listed, so far Cendrigo was a non starter (regarding the 600,000 shares) and the INTO sp is in sharp decline, however we have been assured things are progressing so keep your pecker up old chap!
So much promise, endless financial backing...what went so wrong!
https://www.thisismoney.co.uk/money/news/article-2382149/ED-WINTER-INTERVIEW-Reaching-African-skies.html
I wonder where dear old Ed is now!
JT (ex stalwart)
Looks that way Bob...loan repayment by cash and revenues.
Lolster,
As far as I'm aware CIC Fund has no holding in CIC Capital.
There is the promise of cash or shares to repay the outstanding convertible loan no later than the end of 2021.
I spoke to Stuart a couple of weeks back and he emphasisedid the importance of getting the listing documentation correct prior to it being submitted , this surely has to overwrite any time frame previously mentioned. I have no issue with this (as a shareholder TD) providing the listing is successful... and it's certainly no given.
Stuart admitted mistakes had been made and regulations seemingly changed at will dependant on who was at the helm at the regulators, I get the impression they are extremely cautious regarding the nature of the business and model proposed, there was also issues with Seychelles legislation etc but he was quick to add that all of this was adding to the knowledge gained buy the company.
I have to add Stuart was quite happy to discuss (again) all elements of the group at length, give detailed replies both positive and negative and a suitable level of assurance... for now.
...indeed Lolster/macnai, that was the basis of my post earlier in the week.
I guess if China Energy is funding them why bother, on the upside this is further example of China"s business strategy and SB/CIC look well positioned to benefit.
... if Stuart is involved in pairing these guys then things look promising.
Prospectus states;
Cindrigo Energy Ltd. 600,000 issued at US$10.00 per share
...and Cindrigo Energy which Stuart was advising. Cindrigo's new waste incinerator in Ukraine is being wholey funded by China Energy Ltd for a cool €160,000,000
They are looking to list on TSX asap.
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00047405
Just noticed that we can now pin CICC to the quick picks on this new LSE platform... but surprise surprise it disappears when you leave the page!