So we have the following:
FC state the following is owed to them via AVS
funds advanced 42,791,648
Interest 13,513,152
Cancellation fee 11,941,824
Total owed 68,246,624
less 23,084,968 (held in bank)
owed $45, 161,656
They are proposing to buy the assets of BRTV for $30m.
So FC capital end up with:
Cash lent out $42m
Cash back in $23m
"Out of pocket" $19m
Then FC lease the assets back to BRTV or BIG Un for (amount owed to them up to $45m)
which will eventually "maybe" extinguish the debt but won't give BIG ownership of the assets.
So FC will receive in time, $45m on their $19m exposure, and keep the assets 100% and 3m shares or more in BIG.
Not bad hey?
Am I right or does BIG then only owe $45m less $30m (value of purchase)????? So $15m ???
**Sonia states as director signoff that $56m is owing and not $68m, the difference being the "cancellation" fee, seems to be in dispute.
I also read the agreement will be made so that BIG can continue to operate "in Australia"
I find that pertinent as it distinguishably states Australia, but nowhere else?
- Forums
- ASX - By Stock
- BIG
- Ann: Shareholder Update
Ann: Shareholder Update, page-21
-
- There are more pages in this discussion • 34 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)