BCB 1.69% 6.0¢ bowen coking coal limited

I see there are concerns by a certain poster in regards to the...

  1. 18 Posts.
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    I see there are concerns by a certain poster in regards to the 96 million escrowed shares that are scheduled to be release on the 11th of October. These shares originally were issued during the relisting of BCB in oct 2017 (70 million to Cape Coal and 13 million each to the 2 directors), escrowed for 2 years.

    Now, on Friday Cape Coal has sold a total of 15.9 million shares off market, 14.5m to ML and 1.4m to NJ. This was an off-market trade to 2 insiders. I believe this is just Cape Coal cashing out to derisk, in view that they will be receiving at least 70m shares release on escrow on the 11th October.

    Cape Coal will not be selling those 70m shares that were held in escrow, as evident in this snippet in today's announcement.  FYI, Cape Coal is the company that is controlled by Gerhard Redelinghuys, who is Bowen's MD.


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    Last edited by daniel_leong86: 16/09/19
 
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