"... Given that they hold 24.96 million shares, Fairstar would need about $3.07 million if it was to take up its entitlements in Golden West's 1-for-15 rights issue at $1.85 a share.
Then there's the $22.8 million needed to acquire the outstanding $2 and $3 options in Golden West that it hasn't already done a deal for. Add that to the $25.6 million in other transaction costs, which includes $6.5m to advisers, $13m in stamp duty and $5.9m in “other professional advisers fees�. .... There's always a good old fashioned capital raising to be had and what's wrong with having more than 1 billion shares on issue? "
GWR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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