More ideas about a potential deal.
cARE pays AMA $50m and receives 769,230,769 share based on 6.5cps which will give it around 30% of the company. This money is used to pay down debt and allows the refinancing to proceed on favourable terms leaving AMA in a strong position moving forward.
This will leave AMA with around 2,575,634,320 shares on issue which will see a consolidation of 1 for 10.
Sure it will be a dilution but at least it isn't a CR and gets a large shareholder on board and would put a floor under the price.
Any thoughts?
In Melbourne there are a couple of places where a cARE and AMA overlap exist but a rejig to cater for other insurers would exist.
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