So this is how I think of this transaction:1. PGC undertakes a...

So this is how I think of this transaction:
1. PGC undertakes a capital raising o $201,494,830 by issuing 943,524,071 shares to CH2 at 21.4c per share
2. PGC uses the $201,494,830 capital raised to purchase all the shares in CH2

So PGC were able to undertake a substantial capital raising at higher than the prevailing share price (albeit not much greater) when normally capital raising of that size would require a deep discount.

So on the surface, a good transaction? Well that depends on whether CH2 turns out to be a good purchase.