Ann: Investor Presentation, page-5

Take a look at the financials,imo only the 'adjustment' in the sp is obvious especially leading up to ex div date.
As posted co guidance for fy23 is a return to normal margins combined with obvious energy pressure.
By the way BW they could have stated the contract positions for gas and electricity like they have in the past and like KOV did in the last line of their outlook guidance.Bisalloy may have a reason for not stating their energy contract position.
Again,imo only its still not clear how much of the 3 material contracts r included in their FY23 guidance because there is nothing normal about the margins involved in the K-9 contract,snowy pipe contract or the land 400 phase decision due to the down time and costs involved in testing the grades required..
Snowy and land 400 phase 3 due to be announced anytime,its suggested the k-9 contract will b received 3q CY22.Each can decide if they will come to fruition snowy land 400 Australian steel mandated,K-9 agreement of intent signed.
At $2.70 sp it represents a 5% FF div FY22 including the upcoming 9 cents FF.
So decide how much 'returning' to normal margin will effect the financials including their energy contract position but then imo decisions on above 3 contracts due to b announced/confirmed shorty and as posted on my maths has a tonnage of approx 18,000 tons and bisalloys capacity is they say 60,000 to 70,000 tons ,above contracts i guess would represent approx 30% of bis capacity.
ps imo only if bis was going to b taken over it would b a friendly take over by BSL.
ps why would bis contemplate a CR.?.