Great result for the lawyers and litigation funders. Crappy result for us shareholders!! Those of you calculating Net 10c+ to Shareholders, I don't see any of you making an allowance for tax. Are you assuming the settlement is tax free? Or is this something you've overlooked? By my calcs, assuming everything goes well (rather heroic assumption given the various parties involved), we'll probably Net somewhere around 9c. Super disappointed in management for agreeing to this!! Unfortunately, the current SP is probably about right given the uncertainty that remains, so I'm neither a buyer nor a seller right now... Hoping management might shed some more light for us tomorrow. Will have my Sell order pre-loaded just in case they deliver bad news (which i'm 50/50 anticipating - but they'll window dress it in opaque language e.g. no explicit news around return of capital to shareholders on the future tranches, just a "we're considering optimal capital allocation strategy, have formed a special committee and will get back to you" (which to me would be code for - you won't see a dime of the future settlement tranches!)
IDA Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held
