I am confused. Does anybody understand this?
I can see that Jadefield, China Powerplus and Ms Zhang Guangxia hold 95.2% of the shares.
So they intend to buy out the operations of the company for $2.6m and the cancellation of their shares? So that is like a $2.6m buyout of the remaining 4.8% of shareholders? That is like valuing the operations at $54m. That is the equivalent of $0.112/share. But that maybe it wouldn't be a capital return, just $2.6m sitting in the company coffers.
But then I don't understand Stage 2, the New Main Undertaking.
I could easily be wrong in my understanding.
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