ags court, page-123

J1 and JC

Slow down, you're making my head spin.

Firstly lets assume I.G. and B.T aren't stupid.

This CR takes upto Dec 31st to complete. imo


"New Shares and New Options issued under the Offer. Deferred settlement trading ends and despatch of holding statements

New Shares and New Options issued under the Offer. Deferred settlement trading ends and despatch of holding statements' Wed 31st December.


Roughly 340m Shares in AGS becomes 400m shares if all the Rights are taken up.

Now I want you to think about why this is being done now at the last minute. imo

It maybe as a result of Itochu.

This Issue costs them an extra 5m imo, if I have their Deal correct in that they take ( or can take) a Direct interest in ACE through a vwap of trading in AGS for the stated two months which I asked about at the AGM. imo

What does an extra 60m shares on issue do to their 14.9% or 25.1% or in total 40%.

Does it make them pay a small premium now?

eg using the 40%

1. 40% of 340m shares then
or
2. 40% of 400m shares now 31/12/2014

Using the 20c as vwap
1 $27,200,000 to AGS
2 $32,000,000 to AGS

Using my figures roughly around 5m more if the new shares count.!

I haven't a clue whats going on and if Itochu do want to take up their deal. How do the new Shares on issue 31/12/2014 interact with their deal.?

I'm just throwing something into the mix. Someone put me out of the picture if I am way off the mark with my approx figures or idea. Thanks.

Sorry if I confuse but as I said something is behind this late CR. - I.G and B.T. aren't stupid.

Another possibility with Itochu is they indicated they were coming on board and then pulled the plug. Which meant AGS were stranded and hurriedly called the CR.

As I said just throwing thing out there.


Md