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14/12/21
14:29
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Originally posted by Proxylady:
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My understanding based on ASX releases is as follows: “Pursuant to the Share Sale Agreements announced on 21 October 2021 for a total aggregate cash consideration of US$500m (or approximately AUD $667m applying an AUD:USD exchange rate of $0.75)” Current exchange rate is $0.715, so that pushes the cash-in-the-kitty amount to $700m. “Cardno intends to distribute AUD$582m (in aggregate) to Cardno shareholders (AUD$1.49 per share)”. That should leave $118m behind in the kitty, or $0.30 per share, plus whatever IDA is worth. Buying at current price of $0.21 sounds a good deal, or am I missing something?...
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That's what I am thinking as well. Surely we're missing something here.