DGR are owed around 25m excluding the shares we own.
I am certain DGR will make an offer of at least the value of secured notes plus ajq notes, circa 35m.
if that is the highest bid we own 100% of AJQ
if that is not the highest bid, we get our 25m notes paid back in cash which is 50% of DGR current market value.
its not good for AJQ shareholders but won’t be too bad for DGR.
AJQ - Takeover Offer, page-17
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