Agree brrrattt, very interesting.
Annualised return w/ the 7.5cps of franked divies is now 28% @ $2.78 SP ($3.075 / $2.78. End of June now only 4.5 months away).
Seems the market is worried Pyridam can't raise the funds? They have one hell of a dilutive rights issue to do considering it's a $47m AUD market cap acquiring $251m equity value. Also appears they're not profitable...
Anyone understand legal speak? Two items in the Scheme document sound pretty good but I have no confidence I'm interpenetrating it right.
1) Seems Pyridam has a binding commitments from sponsors enough to fund the deal already?
2) Also a potential standby buyer that has will come in and buy any un-exercised rights in the capital raise?
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