Ann: Barminco Acquisition & Equity Raising Investor Presentation, page-3

OMG - I think ASL managment just bought a mongrel with fleas the only winners as far as I can tell at least short term are the underwriters and the vendors of Barminco - the managment of ASL just handed shareholders of Ausdrill a company transformed into a debt laden ($643m / net debt $502.6m from$267.3m net debt prior to trans), goodwill carrying (Goodwill increases to 497m from zero) and intangibles loaded beast (intangiables increase from zero to $268.9m and meanwhile they double the number of shares on issue. Then to rub salt into the wound they raise capital at a 14% discount to it's last price - "fully underwritten" by it's advisers (probably at great cost) - ASL has got a lot of drilling to do to get themselves out of this hole in my opinion....DYOR