"It's a horrible deal if it's true.
What it means is, they get 20% which equates to ~534 million shares at 8.2c"
Frazer - they can't issue existing shares!
So they have to issue new shares to SK equivalent to 20% of the company for $65m.
Back of envelope - 670M new shares at 9.75c = $65M
Total shares = 2.67B + 670M = 3.34B (670M = 20%)
3.34B shares at 9.75c = $325M
AUZ announcement, page-318
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