Ann: Voluntary Suspension Extension, page-28

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coppernoob

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08/06/22

22:39

Post #: 61905142
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Originally posted by poorinvestor: ↑

I agree with Taurean 7’s assessment. It is the ASX that is causing the delays and the delays are due to the disparity between the scheme offer price of 11.5 cents and the price given or implied by the independent expert.

Anyone who has gone through the logic and detail within Taurean 7’s valuation (link below for anyone who might not have seen it) would find it very difficult to conclude that the expert opinion is going to reflect anything like 11.5 cents per share value. The expert will also have sought and included similar detail in their assessment.

OK, the two valuations won’t be the same but we are talking about more than an order of magnitude difference in the value compared with the offer price. I am sure the ASX doesn’t see that very often and procedural bells are ringing.

If you were the ASX and were confronted with this what would you do? Initially you would ask for justification of the disparity (the first delay) and now we are seeing question/answer processes between RAP and the ASX on detail relating to their response (the current delay).

My bet is that the delays are being caused by the ASX and that they, in turn, have their origin in the large disparity in RAP values.

https://hotcopper.com.au/threads/valuing-resapp-health.6736339/?post_id=61301518

poorinvestor

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I'm wondering whether this falls under the provenance of ASIC, rather than ASX?

RAP Price at posting: 11.0¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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Ann: Voluntary Suspension Extension, page-28

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