DAU Valuation

Dear All,

No post since sometime.
We are long suffering DAU investors since IPO.
( family invest)


Our thoughts on VAN all scrip takeover of DAU.

1) VAN are acquiring DAU assets.
Cash + pending Royalties = approx 6-8 mil ( assuming DAU director valuations )

2) VAN are paying a zero cash consideration.
All paper, with DAU holders owning circa 7% of the enlarged enterprise on completion.
of all scrip bid.

3) No company directors in the any Public Listed Acquired Company may have any direct personal benefit from a listed company take over...( Thats the Law)
Hoe do DAU directors justify a free carry?

4)What valuation is given to the non secured , interest free , no maturity date loan of 500,K$ fron DAU to Aurigin foods ?
A related party transaction of DAU current & Aurigin Directors which are same & have by nature a conflict of interest.

5) If VAN valuation of all paper bid is even remotely close to 5.6 c per share why has there been a low acceptance & DAU is priced at 3c ..
Clearly one of the valuations in strongly incorrect..

In short ,
VAN acquire DAU for free & DAU directors have a personal benefit
& there fore recommend the bid.
To add insult,
There is no cash component.

ITs a dreadful deal..a shocker for DAU & very good for VAN.
No need to go to the bank for the next 2mA$ cash burn at VAN.
They get the DAU treasury for no cash component..zip.



Loosers are DAU holders ,

Winners ,
are those who receive free carry scrip ( guess who ?) + VAN Holders.
Its a shocker for DAU holders, but maybe better a better chance for DAU holders than the current disgrace of DAU shareholders being shafted for past few years of bloated
management, consulting fees & related party transactions executed by current DAU directors.

Hope you all find back your losses on this shambles elsewhere.


Best,
S.G