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Whilst some investors may assume it will go ahead because of AYS...

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nicleeson

2,269 Posts.

67

12/01/21

17:25

Post #: 50118179
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Originally posted by NotWarrenBuffet: ↑

It all hinges on the sale of the mobile business to Optus. If the shareholders approve the sale at the EGM on Jan. 21 then the WAM offer will proceed after Feb. 1 when Optus takes ownership of the mobile business. The AYS board is supportive of the sale to Optus and the WAM offer, so presumably they'll both go ahead. WAM is after the cash and franking credits because their reserves have run dry. If for some reason the WAM offer collapses then AYS returns all the cash and franking credits to holders.

Correction: it's actually 1 WAM share for each 2.7 AYS shares, not 2.6 as I said above, so at today's AYS closing price a WAM share will cost $1.9575.

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Whilst some investors may assume it will go ahead because of AYS board support, it comes down to how shareholders vote. No sure thing it goes ahead. Some are not happy with the deal and may not vote for it. So potential AYS shareholders need to weigh that up. (I do hold AYS).

CVF Price at posting: 32.0¢ Sentiment: Hold Disclosure: Held
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