Conti.Coal Share Discussion Threads

[c31161] 10/8/2014 22:06

Stigoligist I suppose you were born an expert of rights issues.

[c31161] 10/8/2014 14:31

The intelligent thread was set up by me for someone else and stigoligist every stock you have bought must have been a success.

Any way from what I can gather each shareholder with be given the right to buy 9 shares for everyone they own but the shares are non- renouncable so the rights can not be sold on, what thoughts on wether or not to take up the offer

[the stigologist] 10/8/2014 13:58

LOL

the 'intelligent investors' thread was set up by c31161

[bam bam rubble] 10/8/2014 13:25

In english, it's a debt-for-equity swap at -75% discount to the suspension price.

Existing holders will be almost wiped out as shares increase from 0.7bn to 7.7bn.

[queenwood] 10/8/2014 13:06

all it does basicaly is dilute the share price and gives the co some cash to carry on producing but at least it gives us a starting point and the plus is that all the shs have been taken up :0)

[c31161] 10/8/2014 09:00

Can someone please explain this rights issue in English for idiots like me

[queenwood] 07/8/2014 09:51

strange comment, take the long view c3 eventually this might come good :0)

[c31161] 06/8/2014 19:41

Queen if this means our shares will be almost worthless I will vote against it and let this go bust out of spite

[queenwood] 06/8/2014 13:56

end of september it is then i think we can expect a drop in share price on opening ile put the champagne on ice for later :0)

[mhin2] 06/8/2014 07:46

many people these days need a qualification/license to operate...if that were the case with Directors PL would have lost his.

[mhin2] 06/8/2014 07:45

rabid dogs ought to be put down...PL is a consistent losing liar

[napoleon 14th] 02/8/2014 07:00

Nothing on company website yet.



I guess we'll find out from brokers soon enough what XR get as PIs.
Can't see much choice but to subscribe & average down, then hope for the best...

GLA.

[mrshaungcm] 01/8/2014 07:09

4.1. Recapitalisation

During the Quarter the Company progressed with its previously announced Rights
Issue. This proposed non-renounceable pro-rata Rights Issue is planned to raise
approx. A$35.1m (previously noted as up to A$31.7m) at an offer price of
A$0.005 per new share and the Company has appointed Paterson's Securities
Limited as Corporate Advisor and Lead Manager to the offer.

The Company has received strong interest in participation in the Rights Issue
from institutional and sophisticated investors in Australia, Europe and South
Africa as well as a number of commodity trading groups and specialist coal
mining investment funds. Proceeds from the Rights Issue will be primarily used
by the Company to repay unsecured convertible noteholders, loans and royalty
holders, repay bridging finance, reduce the Group's other borrowings, provide
funds towards the development of the Company's advanced coal mining projects
and provide working capital.

The fund raising will allow the Company to complete its planned
recapitalisation and restructure of the Company's balance sheet, substantially
reducing the Group's total indebtedness

The fund raising is being completed after reaching standstill agreements with
key unsecured convertible note and royalty holders, after negotiations of its
Coal Supply Agreement with EDF Trading and with negotiations with ABSA Bank (in
respect to the debt financing for the Penumbra Coal Mine) which are ongoing.

Full details of the Rights Issue are scheduled to be released to the market
shortly.

4.2 Proposed listing on the Johannesburg Stock Exchange

The proposed listing has been postponed until such time as the recapitalisation
of the Company has been completed.

4.3 ASX and AIM share trading suspension

As at the date of this report Continental's securities on both the ASX and AIM
markets continue to be suspended whilst the Company completes the Rights Issue.

[queenwood] 21/7/2014 20:19

any time when your ready cool :0)

[queenwood] 09/7/2014 14:03

no big loss dee

[deekay1959] 09/7/2014 09:27

Aim rule 41 states that a company shares suspended for more than 6 months will be automatically cancelled from Aim

[queenwood] 07/7/2014 14:07

if and when it opens it will be less than the closing price imo and it will be doutful if you can sell any large amounts for a while all imo so long term hold its got to be better then forclosure anyway :0(

[mhin2] 07/7/2014 00:02

PL and his merry band ready to self enrich...their track record suggests so..AIM Cesspit award should be posted on their website...what a kitemark

[c31161] 04/7/2014 16:36

Queenwood,what do you think is going on, do you think we will get any money back and if so will it be a fraction of the last closing price, or is it all just guess work.