re: abitrage math O.K my take is Tullow will issue 65m new shares you need aprox 4.5 hdr shares to get 1 Tullow share ?
65 X 4.5m equals 292 million hdr shares can be accomodated
Tullow wont vote their own shares but to date they only have 5% ( disclosed in thier name anyway )
The document says shares will be issued on a pro rata basis so if everyone wanted shares not cash you would only get 40%
A lot will want cash and Tullow will probably have a lot more than 5% so I would think those wanting Tullow shares will get closer to 75% of them as wild guess.
Obviously this only happens in the absence of a higher offer or in sufficient number of votes ( unlikely )
- Forums
- ASX - By Stock
- HDR
- ubs could mean new bid in play
HDR
hardman resources limited
ubs could mean new bid in play, page-13
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)