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Bullboard - Stock Discussion Forum Banca I.F.I.S Spa BNCIF

Banca Ifis is an independent banking group specializing in the collection of trade receivables, non-performing loans, and tax receivables. The group's credit is exposed mostly to Italy and other European nations. Its trade receivables segment focuses on growing trade finance loans and providing liquidity to Italian small and medium-sized enterprises. Approximately one-third of its loan... see more

GREY:BNCIF - Post Discussion

Banca I.F.I.S Spa > Just talked to Bruce Bragagnolo
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Post by SailorFrank on Jun 29, 2017 3:37pm

Just talked to Bruce Bragagnolo

I just got off the phone with Bruce,

To make a long story short, the BNN interview may have caused some confusion but as per the news release "Under the terms of the Arrangement, CobalTech will receive 0.2632 of a First Cobalt common share for each CobalTech common share (a “CobalTech Share”), representing the equivalent of $0.20 per CobalTech Share".

He confirmed that the agreement is just that. The CSK / FCC deal is independent from the one with Cobalt one and the CSK / FCC deal may happen first. So bottom line CSK gets .2632 of FCC(only) when it resumes trading or $.20 based on closing price.

Frank
Comment by SparticusJones on Jun 29, 2017 3:47pm
So essentially nothing has changed, interview or not. Still valued at the same and still a terrible deal for csk members. I feel like he just read off of a print out of the initial news release. Like he keeps it on his desk just to reiterate when he has to answer calls. No real answers only deflections. I don't know why they are so secretive, we own a part of the company we should be given ...more  
Comment by Incredible on Jun 29, 2017 4:55pm
Okay, the use of the word "OR' needs to be clarified.... You make it sound like he said CSK holders are guaranteed 20 cents a share as of the closing price as of May 26th OR is it what ever the stock price is once the deal is closed? If CSK holders were guaranteed 20 cents a share the stock price would reflect that right now, so all you have done is confused the issue... The only way ...more  
Comment by newsimon1707 on Jun 29, 2017 5:30pm
If this deal has a real 0,20$, the SP would reflect it...now we are at 0,13$ bid! if what you said is true, FCC currently has 55 million shares un circulation...we will have 22,3 million shares of FCC according to you...  Then how come we will own 11% of the new company and they will own 36%?? we should have one third of the total of 47%!  That represent close to 16% of the company...  ...more  
Comment by Goldfather on Jun 29, 2017 8:12pm
Just noticed another reason why the Market is shying away from buying Csk and the low price. Besides requiring " definitive documentation " needed to be signed..... Sailor said of his  Bruce chat that Csk-Fcc deal may happen first .  Huh ? Wait What ? ....... only reason we're jumping in bed here is for the Refinery. We gotta Close after Co1 & Fcc Close. Not before ...more  
Comment by dothemathpeople on Jun 30, 2017 9:56am
You are losing your mind...take a break.  What will be, will be.  Namaste.
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