Okay, I know no-one is happy but help me out with this.
What am I missing here ? Maybe I'm looking at this upside down or something ?
From the Proforma Balance Sheet.
TOTAL EQUITY (After Placement & Entitlement) is shown to be $ 45.4 Million
Cash component of Total Equity will be $36 million ( or 79%).
REPEAT 79% of Company's Equity will be in cash. Other assets equal 21%
That means the rest of the Company's Assets are valued at only $9 million
MARKET CAP ( AT TIME OF TRADING HALT) is 19.6 Million (Per Hot Copper)
IN two weeks time, the Company will be very liquid.
If the SP has been cheap enough that there has been talk of Takeover, why is the SP (proposed entitlement issue) "wrong" to take up entitlement issue ?
Even one of the giants on the ASX (Cochlear) went to the market to raise funds in this climate.
Appreciate other viewpoints.
Ann: Presentation, page-19
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