he he CT here is that post 3508096
see the 80% dilution as follows;
Net Tangible assets of CNP 620000000 = $0.69/share
Intangable number (Goodwill) $0.00
Value of Service Business to CNP $2,000,000,000.00 = $2.23/share
Total share price $2.92
Company worth based on current 896421000 shares $2,620,000,000.00
Debt to Equity amount $4,000,000,000.00
Company worth after Debt for Equity $6,620,000,000.00
No. of new shares required $4,000,000,000.00 ($1/share)
Total amount of shares on issue after re-captilisation $4,896,421,000.00
New share price based on company worth divided by 4,896,421,000 Shares $1.35
Centro's existing shareholder percentage of new company worth 18.31% or $1,211,968,296.84 or $1.35/share
Debt to Equity percentage of new company worth 81.69% or $5,408,031,703.16 or $1.35/share
This model represents a hefty dilution for existing shareholders, but I would much prefer this versus administration.
It also gives a very good premium for the equity investor to make it worth there while.
The 4 billion paid off debt should bring the LVR down to approx. 54%.
All we need now each of the 24 lenders to convert 166 million of unsecured debt to equity.
is that good enough now :) he he
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