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21/01/22
14:38
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Originally posted by Red Baron:
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(system glitch won't let me reply to your post) Hi Handy777 That 3.38c I worked out is for the Entitlement Offer only. The in specie distribution is different again and will be bigger. See my previous post as to how I came to the 3.38c per FFX share. The in specie distribution will basically be distributing 80% of the SOI in Leo (before the IPO raise with the entitlement offer) to FFX shareholders. It's 80% because the company have said they'll keep 20%. For exampleIf our SP is $1 going into the demerger (quite likely IMO - been to 92c already) that gives us a market cap of around $1.2b If you think 800m of that is for Leo, then that 800m less 20% (ffx retaining) = 640m divided by 1.18b SOI = 54c value of Leo per FFX share you hold. Obviously my figures are just an example, you can put whatever value you like on Leo, the calculation is basically the same.
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I thought Gangfeng get 40% Mali govt get up to 20% ffx get 40% and keep 20% of that. So us punters get a share of 32% of what ever the value is. Divided by how many shares you have etc etc. IMHO. Liam