Good post, but your analysis of the tax is likely to be incorrect.
If the bidder purchased the CHN shares, then basically they would be inheriting a tax liability down the track, and therefore would have discounted the purchase price accordingly. Buying the assets directly gives them a new cost base and therefore no inherent tax liability. Therefore, an asset purchase was probably the only option on the table. I have no idea about Eritrean tax though, so the principles may be different.
I am not doubting that this is value at current levels though given the cash backing. I am just trying to understand if I am missing something before jumping back in (I used to be a shareholder back when this stock was in the 60s and am still a fan).
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Last
$1.13 |
Change
0.070(6.64%) |
Mkt cap ! $412.3M |
Open | High | Low | Value | Volume |
$1.08 | $1.13 | $1.06 | $1.636M | 1.501M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 11375 | $1.13 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.13 | 23999 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 989 | 1.105 |
16 | 138635 | 1.100 |
9 | 32912 | 1.095 |
7 | 45334 | 1.090 |
4 | 87784 | 1.085 |
Price($) | Vol. | No. |
---|---|---|
1.110 | 19736 | 16 |
1.115 | 36402 | 5 |
1.120 | 166746 | 9 |
1.125 | 76379 | 2 |
1.130 | 35124 | 7 |
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