Hi guys
I have done the math on what Toho would have to take off us to get to the 49.9% under their proposal and its quite a bit more than the 24%-28% that has been bandied about. Quite simply:
Toho owns 24.1% of CBH
Everyone else must then own the rest ie 75.9%
To get to 49.9% Toho must buy another 25.8% (ie 24.1% they've already got + 25.8% extra = 49.9%).
Hence Toho must buy 25.8% from the remaining 75.9%.
This expressed as a percentage is 25.8%/75.9% = 33.99%
So if its directly proportional then they have to basically buy 34% of our shares off us.
Now with the price trading at $0.18 I don't believe there's much downside to waiting to see what Nyrstar is up to. This is because if Toho is as good as it gets you'll:
1. get 34% of your holding away 0.34 x $0.25 = $0.085
2. the price of the shares will drop to pre bid levels now that Toho is joined at the hip with CBH, say $0.14, your remaining shares will be worth: 0.66 x $0.14 = $0.0924.
This gives a combined value of $0.1774, pretty much where the stock is now.
Anyone see any flaws in my logic?
Cheers
J.
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Last
7.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.271M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 59430 | 7.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.9¢ | 11110 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 59430 | 0.077 |
2 | 201275 | 0.075 |
1 | 100000 | 0.055 |
1 | 9800 | 0.053 |
2 | 203170 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.089 | 11110 | 1 |
0.090 | 100000 | 1 |
0.094 | 85000 | 1 |
0.096 | 10553 | 1 |
0.100 | 60000 | 1 |
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