MSC 0.00% 6.4¢ minerals corporation limited

non renounceable offer in ccg

  1. 1,214 Posts.
    Anyone looked at this yet? I am really dubious. MSC is selling its shareholding in Sinotel Ltd into a new Co. CCG for about $3.5m. yet there is no value anywhere to be found for Sinotel in the MSC 2004 annual report.

    Sinotel from what i can find out has an unused telcommunication asset in China. MSC is going to Underwrite $1m of a $7m raising for CCG. BUT if less than $1m is raised it does not have to proceed.
    Is this a good way for MSC to flog off a worthless asset at the expense of subscribing shareholders?
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