Ann: Partial completion of Funds 2&3 investment, page-5

For everyone's reference, here are the economics of Funds 2&3:



And here are my personal calculations for the equivalent economics of this partial completion:


As per the slide above, I have assumed an indicative 12.5% pa equity rate for the fund investors and a 2.0% pa management fee for OBL. The investment period inferred from the reported IRR is 4.7 years, given that (43.7/5.1)^(1/4.7)-1 = 58%.

So, if my calculations are correct, the Gross Profit from this partial completion (OBL part only) corresponds to more than 10% of current Market Cap.

Please do your own DD.