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To: Sir Auric Goldfinger who wrote (34)	1/4/2000 2:31:00 PM
From: who cares?	Read Replies (2) \| Respond to of 265

This is what it's all about. biz.yahoo.com Mr. Malone said that as part of this process, New Tel has provided Xinhua with $1.0 million as a deposit, funded by the issue of an A$2.7 million convertible note. The Company intends to raise a further A$20 million by way of a rights issue at A$1.20 per share to fund the working capital requirements of this transaction. ''Of the A$20 million total, New Tel has completed a placement of 4.2 million shares, raising A$5 million,'' Mr.Malone said. ''The Company will then, subject to shareholder approval, undertake a further placement to raise A$10 million in conjunction with a rights issue at A$1.20 per share in order to raise an additional A$5 million. ''After formal due diligence is completed and with the approval of shareholders, New Tel will then seek to raise a further A$200 million on The Nasdaq Stock Market in the USA to fund the development of the business. It is proposed that the equity placement will involve 100 million shares at A$2.00 per share.''