check out the figures, page-4

  1. 14,217 Posts.
    lightbulb Created with Sketch. 123
    those figures are wrong sorry

    Assets $21

    a writedown of 20% is equal to $4.2

    Assets $16.8 bn
    Debt $10 bn
    Equity $6.8 bn

    No of shares = 2,199,133,940

    NTA = $3.09

    add in a 1 for 1 equity raising of $1

    add $2.2 bn to company's balance sheet to retire debt

    Assets $16.8 bn
    Debt $7.8 bn
    Equity $9 bn

    no of shares after equity raising = 4.4


    nta $2.05

    a 25% decline in asset values would look something like this

    25% of $21bn = $5.25bn

    assets $15.8
    debt $10 bn
    equity $5.8bn

    nta $2.64
    gearing 63 %

    1 for 1 rights issue of $1 due to high gearing

    Assets $15.8 bn
    Debt $7.8 bn
    Equity $8 bn

    NTA $1.81

    gearing = 49%


    so basically I think at the current price $1.55 we are looking at a decline in assets of 25% at least and a 1 for 1 equity raising

    the additional .26 could be sentiment or for something out of left field
 
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