You should look deeper into that transaction rather than face value.
From memory it was about 50/50 script to cash. Given it was only a small project with an NPV of $360m, $170m consideration would appear to be fair value when you look at other recent schemes/takeovers. For example the WES/KDR scheme.
If you can get taken over at about 50% of your pre-tax NPV or 70% of post tax NPV, its a good result.
There was minimum upside on face value as the thing traded at a smaller discount to project value.
What's 50% of $2.8B pre-tax? $1.25 per share - plenty of upside from $0.08.
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Last
8.4¢ |
Change
-0.001(1.18%) |
Mkt cap ! $174.7M | |||
| Open | High | Low | Value | Volume |
| 8.9¢ | 8.9¢ | 8.4¢ | $12.86K | 148.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 117230 | 8.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.9¢ | 216759 | 4 |
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| Last trade - 12.05pm 18/07/2025 (20 minute delay) ? |
| TVN (ASX) Chart |