Kensington Resources Ltd. (V.KRT) * Diamond in the rough! Message Board

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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!

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To: saul mikaliukas who wrote (3799)	5/4/1999 3:29:00 AM
From: Lilian Debray	of 5206

Can someone give an explanation as to why the pp is at 25 cents and not say 40 or 50? Under Policy 16.1.17 of the Corporate Finance Policy and Procedures Manual. In a Private Placement of equity shares, the purchase price shall be no less than the Market Price for those shares. Market Price is defined as the closing price of the company's listed shares on the trading day before the day the Exchange receives the news release or notice letter, less a discount of 25% for a closing price up to $0.50. The first news release is dated from April 26th. On April 23rd, the stock closed at $.31, up $.05 from the previous day and the previous two weeks. They could even have paid a few cents less for the shares?

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