So there you have it, $4m EBITDA forecast for FY11, if that were to be accurate I think most here would be disappointed, especially with the acquisition of CVC. I note that the company raised $2m @ 17c a share (11.9m shares) to "enhance the working capital of the Company". This is one phrase I really detest, you are diluting my shareholding without giving a reason. Was this mentioned at the AGM yesterday? If this were meant to fund the cash component of the CVA deal surely it would have been stated?
I notice in the takeover announcement the following wording:
BigAir proposes to make an off-market takeover bid to acquire all of the shares in Clever that BigAir does not already own, at an offer price of 0.35 BigAir shares plus 1.82 cents cash for each Clever share.
Are we to assume BGL has been quietly accumulating CVA stock?
So there you have it, $4m EBITDA forecast for FY11, if that were...
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