When the deal was done with Nic to market the property he was given an incentive increase if the realised price was above US$30m. At the time EGP capital (a major shareholder) based their valuation on the land based on that, as you have. After physically going there & extensive research including recent sales they said this in their March 2020 newsletter:
"The 30-hectare asset in Clark Special Economic Zone based on recent transactions is worth between US$90-US$150m (AU$146-AU$244m, or 18.6c – 31.1c per share less any transaction costs and taxes) based on similar transactions undertaken in the area in the past year or two."
I wouldn't worry too much about the process of monetising the property, 2 of the largest shareholders have bailed them out with the loan, their priority would be to get maximum return on their investment. I’ve already mentioned Vern Wills’ large shareholding & so he too would want the best outcome.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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6 | 10130000 | 0.2¢ |
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0.3¢ | 19201629 | 10 |
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18 | 49854317 | 0.001 |
0 | 0 | 0.000 |
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0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.003 | 19201629 | 10 |
0.004 | 13540832 | 6 |
0.005 | 6204870 | 6 |
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