how it looks post-implementation

Re: Balance Sheet
[Securityholder Booklet pp 55 | Noteholder Booklet pp 67]
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Pro-forma as at 31 December 2010
CA = $76.8m
NCA = $243.2m
Total Assets = $320.0m

CL = $52.7m
NCL = $221.5m
Total Liabilities = $274.2m

Total Equity = $45.8m
Less Minority Interests = $29.0m
Attributable to parent = $16.7m
Divided by 4334.6m shares = 0.39c per share

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Re: Cashflow Statement
[Securityholder Booklet pp 57 | Noteholder Booklet pp 69]
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The main value that remains of the business is demonstrated by the strong operating cashflow that development sales continue to produce.

In the half year $25.2m of operating cash was produced, with $7.0m of that going towards debt servicing. Crudely extrapolating this is equivalent to ~$50m in annual operating cash, with ~$14m in pre-restructure debt servicing. Post-restructure the interest-bearing debt will amount to only $95m of interest-bearing debt, and $22m of interest-capitalizing debt. Assuming an equivalent interest rate, this might be estimated to be to $5-6m in yearly interest payments, yielding an annual operating cashflow of $45m.

Assuming that, it would take less than 3 years to pay off the remaining corporate debt of $117m (as a rough estimate, ceteris parabis). This also means net assets can be assumed to increase at least $45m per annum post-restructure.

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2010:
Attributable to parent = $16.7m
Divided by 4334.6m shares = 0.39c per share

2011:
Attributable to parent = $61.7m
Divided by 4334.6m shares = 1.42c per share

2012:
Attributable to parent = $106.7m
Divided by 4334.6m shares = 2.46c per share

2013:
Attributable to parent = $151.7m
Divided by 4334.6m shares = 3.50c per share