My view on Seven and Engin - there are 3 scenarios:
1. Stays as is 2. Seven buy out remaining 42% to own the lot 3. Seven sells / finds buyer
In scenario 2 - there's an Independent Experts Report that will need to declare that a particular price is fair for them to get to the 90%.
Scenario 3 - there's no way they'll give it away.
Seven wrote down their investment in ENG by $18m. I understand they own 58% having paid approx $34m. This leaves $16m on the books for their 58% - inferring a market cap of $27m? Today the market cap is $14m.... BINGO! 2 Bagger!!
Cicatriss
ENG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held