2020, page-39

I'll play the skeptic, if we assume that DNA achieve some compensation in the arbitration, what can we realistically expect? At this stage we can only assume that the 18% Vendor shareholding in DNA is up fro grabs. Maybe there are other assets on the line in Singapore, but we simply don't know. I also think given the Vendor's hostility it's hard NOT to believe that assets were sheltered from the Singapore Arbitration. There may be tens of millions of assets frozen in Singapore, but that seems a stretch. There also may be tactics available to the Vendor to delay payment despite the Singapore's Internation Arbitration being final on paper. If there isn't realistically any cash up for grabs in the short term, or ever, than the market would simply account for less shares on issue upon the cancellation of the Vendor's shares in Australia. In other words, not trading at 20c in March, but rather something like 10c, or 20% on top of whatever the prevailing price if results in Feb move the needle.

The only 3 things that would move the price back to those levels would be a takeover offer, the lease dispute going DNA's way re Star Vegas and/or a large cash settlement from the Singapore Arbitration. All of which are unlikely in the short term.