I’m making an assumption of an average 2.5c profit per share based on the trading from Friday. Roughly 220mill SOI prior to conversion. 440mill after conversion = 200mill issued.
200mill x 2.5c (average profit per share) = $5mill profit in 2 months = 125% profit in 2 months. Annualised = 750%
These are just my assumptions and workings. Other than that I don’t know how else to explain it.
Ann: Proposed issue of securities - CLZ, page-104
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