I hope there's no cash distribution of the sale proceeds. Better to use the funds to build the macadamia business and/or pay down debt. Dividends can wait.
Remember, BUG is a small company. Even after today's 10% rise its market capitalisation is just $14.5m. Its debt of $23.5m is stretching things somewhat.
However, the company is backed by net tangible assets valued at $42m (49c per share). Source: Dec 19 half year report.
We'll be getting more information about this potential transaction if it stays on course, including 'an independent expert report in relation to whether the Proposed Transaction is fair and reasonable to shareholders not associated with Global Foods.'
I hope there's no cash distribution of the sale proceeds. Better...
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