Ann: Approval of Deed of Company Arrangement (DOCA), page-14

First 14 Last

Share
Profile

Follow
Ninja_Chook

1,347 Posts.

17

14/05/15

15:39

Post #: 15280499
Share

Originally posted by Ninja_Chook ↑

From the DOCA proposal:

1.4. In consideration for the Proponent’s First Loan and
Second Loan, the Deed Administrators will cause a
meeting of the Company’s shareholders to be convened
for the purpose of considering and approving:
 a consolidation of existing shares on issue at a
ratio of 400:1;
 cancellation of all existing options;
 the issue of 10 million ordinary shares to the
Proponent or its nominees; and
 the issue of 10 million options over ordinary shares
to the Proponent.

So MC/.6c = 136383333 shares on issue
136383333/400 = 340958
Add 10m new shares = 10340958
Divide by MC = 126cps

Halve it again to factor in dilution by options = 63cps

Have to ask how much was the MC suppressed because the company looked like it was going under?
Have to expect further dilution to recapitalize the company to enable ongoing operations.

My sentiment and position will remain the same when they start trading again however I will keep an eye on Mt Kare because I believe there is something there.

Expand

So 400 shares after consolidation would be worth about $500 at a guess, and likely to go down further.

IDC Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

HotCopper Highlights Week 32: Lindian hints at gov't REE support; Boss Energy ire & more

RBA's inflation trick: Is the number lying to us?

Week 32 Wrap: Trump tariffs are finally here. Again. But will they even make a sound?

What the hell is wrong with ASX Ltd? The hits keep coming, and now CBOE looms

IRE

Iress Ltd leads top gainers intraday Friday as Blackstone buyout bid confirmed

First 14 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Ann: Approval of Deed of Company Arrangement (DOCA), page-14

Top Stories

HotCopper Highlights Week 32: Lindian hints at gov't REE support; Boss Energy ire & more

RBA's inflation trick: Is the number lying to us?

Week 32 Wrap: Trump tariffs are finally here. Again. But will they even make a sound?

What the hell is wrong with ASX Ltd? The hits keep coming, and now CBOE looms

Iress Ltd leads top gainers intraday Friday as Blackstone buyout bid confirmed

Featured News