G'day surfrat,
Market cap of ACL even with an extra 70m shares is $62m.
Knock off the $22m in cash and we have an underlying value of $40m. This is ridiculous IMO; sophs did not need a sweetener, they are already getting a bargain.
Simplistic way of looking at it I know, but I too will be annoyed to say the least if this split is forced upon us.
The gerbil is indeed in the detail.
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