Australia's largest stock trading and investment forum Australia's #1 stock forum

CNW

Click for more information

0.00%

6.1¢ cirrus networks holdings limited

Ann: Revised Scheme Offer from Atturra, page-8

First 8 Last

Share
Profile

Follow
GIGAChad

4,950 Posts.

866

22/09/23

16:28

Post #: 69983181
Share

Originally posted by Gerardibus: ↑

A few thoughts.

This offer is only adequate if ATA keeps its value at or above 88 cents. This of course cannot be guaranteed. If SP of ATA drops from 88 cents, the offer falls from being equivalent to 6.3 cents, if shareholders opt to take ATA shares in the offer. Based on this possibility more nvestors might decide on a full cash payout. However scaleback will limit this to 75% cash if I am not mistaken, so there is still the possibility that the offer is not equivalent to 6.3 cents cash.

There should be some provision to safeguard the offer if the SP of ATA falls.

One also has to look at the share registry of ATA which is very tight with top 20 constituting ~90% of the shares. Disposing of ATA shares could be difficult.

I would prefer a full take over of CNW by ATA for 6.3 cents. I will decide independently, regardless of this offer whether or not I want to buy ATA shares.

Expand

Check your brokerage if they have shortable shares available you can lock in the rate by shorting ATA shares ( the amt of shares you would receive )

CNW Price at posting: 6.0¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 1 more message in this thread...

First 8 Last

Add CNW (ASX) to my watchlist