Shthcop, using your calculated figure of A$223 Million p.a. for the pre tax profit and allow for 30% corporate tax as a rought basis, the profit after tax p.a. roughly would be A$156 Million. Now if the Shareholders vote down this deal and offer GBG to Ansteel in one year's time shareholder's can pay themselves at the rate of 11cents per share!
And that's not it. An Independent Expert report would look way different with this profitability AND Future Profitability in the equation which the current report totally ignores, and the offer price would have to be higher that 11cents!
compare this to the paltry 2.6cents on offer!
GBG Price at posting:
2.7¢ Sentiment: None Disclosure: Held
