Very good. CTN shareholders get to vote on the deal. Come on down, GW.
Question - NAOS pays out a significant chunk (between $6.7m and $12.5m over 4 years) of the 1.15% annual fee it will collect from managing CTN- will CTN portfolio be treated as second class citizens within the NAOS universe? What assurance do CTN shareholders get that they will be treated equally?
What a u-turn for the CTN Board. Having just blessed CGA as the single best manager for CTN by ejecting OC.
For CGA shareholders - lets extend the monetization to get an indication of valuation for CGA.
CTN deal worth $6.7m to $12.5m to CGA.
CTN approx $200m. Rest of FUMA for CGA $400m.
But some of this $400m FUMA is co- branded retail, lower fee large cap and insto $. Be generous and assume they can be monetize at half the rate as the flagship CTN.
Then, rest of FUMA worth between $6.7m to $12.5m. As (400/200) divide by 2 equals one times.
Makes CGA worth $13.4 mill to $25 mill.
Or 28c per share to 53c a share?
Announcement did not specify conditions for max payment.
Mid point 40c. Rest of share price can be considered hot air?
Lets vote.
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Last
29.5¢ |
Change
-0.005(1.67%) |
Mkt cap ! $39.10M |
Open | High | Low | Value | Volume |
29.5¢ | 29.5¢ | 29.5¢ | $19.17K | 65K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 54524 | 29.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.0¢ | 47182 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 54524 | 0.290 |
3 | 143508 | 0.285 |
4 | 187638 | 0.280 |
2 | 50326 | 0.275 |
2 | 55016 | 0.270 |
Price($) | Vol. | No. |
---|---|---|
0.300 | 47182 | 3 |
0.305 | 168793 | 4 |
0.310 | 57400 | 3 |
0.320 | 14077 | 1 |
0.330 | 5000 | 1 |
Last trade - 13.30pm 11/08/2025 (20 minute delay) ? |
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