Not sure if TER is even worth 20c. From their latest Dec...

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BlueTea

49 Posts.

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20/02/20

10:10

Post #: 43039320
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Originally posted by scratchback: ↑

Why panic selling? TBH I was panic as this is my first experience with a hostile takeover and worried about today’s transaction . But I am relieved after I read through the offer and the forum.
1. The deadline is 10/03, still 3 weeks’ time and anything could happen. What if they can’t reach 70%? Now everything is a bluffing.
2. The worst scenario is accepting the offer at the end and post your form on 10/03(received date is valid till 12/03). Anyway TER is an ASX company instead of a foreign exchange market.
3. Current TER price is 27c, so the valuation is 10c+0.6*27=26.2c. Of course TER is a rubbish but I still value it at around 20c.So my valuation is around 10c+0.6*20=22c. If UNV price falls below 20c, I will be happy to buy UNV on the market and accept the offer(it means buying TER at a much cheaper price). Those TER shareholders are all annoying losers( down trend for years) and the best response is buying TER at a much lower cost than theirs.
4. if the valuation fluctuates, I don’t mind buying some TER as a leverage for the gap between the valuation.

DYOR

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Not sure if TER is even worth 20c. From their latest Dec quarterly it sounds like they were bleeding cash.

$67m which they included the 27m from their weird insurance bond arrangement (even though the actual cash was received in Jan). Without that it would be just $40m, a drop from the 66m of the Sep quarter.

I get that they spent around 20m to aquire 20% of UNV and 5m for dividends. But they also issued a bond of USD 20m? And that cash balance they state is based on unaudited management accounts. Is it reliable?
IMHO DYOR

UNV Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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