The current sp is imo mostly reflective of;
1. Maximum Potential 20% dilution from CATS(litigation).
this reflects upto 8c currently.(previously no cap or amount of potential liability had been stated)
2.Stamp duty and services business payments.. 4-6c
3.Capital Gains Tax payable by current CER shareholders upon aggregation.(payable if your cost base is below 18c)
Investors who knew this dumped their shares well in advance at higher prices to offset the CGT payable.
Upon aggregation the sp will trade at relatively the same price to its current sp ($1.55 - $1.60)IMO until a resolution on legal action, probably around march/april court date. Future insto.fund investors will probably not take any positions until this outcome.
I don't think their is any uncertainty issues about aggregation happening and that affecting the current sp.
I think we would have heard from the major players(Orbis/York/Marathon) by now if they were not pleased with aggregation and were going to upset the apple cart.
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