GBG 0.00% 2.9¢ gindalbie metals ltd

minimum 66.5cps, page-2

  1. 13 Posts.
    I think it goes something like this (feel free to pick holes in the logic):

    Ansteel is actually proposing to inject $162.06m in cash.

    If they currently own 12.6% (65m shares out of total 514m), they would have to get a further 384m shares to take them to 50% (they would then hold 449m shares out of a new enlarged total of 898m).

    $162,060,000/384,000,000 = 42.2 cents per share.

    So I'd suggest they won't get near 50%.

    If they take their stake to 30%, it's $162,060,000/127,000,000 = $1.28 p/share
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