"Just running on the figures in the article, Bayan is buying everything for US$198.65 million (say, AUD$180.59 million at an exchange of $1.10). In exchange Bayan get 1.93 billion KRL shares, which at $0.135 is AUD$260.55 million. So Bayan have to stump up with the cash, but make AUD$80 million (on paper) on the turnaround."
Yep sounds like it and that gets them 56%
The rumour:
I was on the 19 hole last week and bumped into a friend who also invested in Kangaroo back when it was KML. We had a chat and he said he got out ages ago but recently got back in because apparently the majority shareholde of Bayan is also a golf fan. Apparently he owns the Joodalup Golf resort in Western Australia and on a recent visit mentioned to someone (also) at the 19th hole that 56% wasn't enough and that he wanted 75-80% at least and would agressively chase it this year"
The disclaimer: This is pure pub banter. I make no claim to fact or disclose a source. No cousins, no taxi drivers just an interesting conversation I thought might put a smile on the face of regular KRLers.
If he wants my shares he can have them for $1.35. its only 10x what he got the last 1.93 billion for.
All the best, Easysell.
KRL Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
