actually the total debt due is a bit more than Eur36m.Including the compound interets, it should amount now to Eur39m or AUD52m. I don't think Transcor will be able to get a AUD30cents conversion price.
It seems to me they are not in such a strong position otherwise they would have already taken 100% of Gazonor for EUR26m (their purchasing price) and put the company into administration to recover the remaining amount of debt.
In any case, I would welcome a partial or full conversion of the Transcor debt into shares at 35cents or more since EGL will then have a clean balance sheet and an intact upside potential.
This would pave the way for a capital raising (AUD20m?) at similar level to give the EGL team money to prove the value of its portfolio. so all in all I would expect a maximum of 200m shares dilution.
Bart
- Forums
- ASX - By Stock
- EPG
- how many shares will it take ?
how many shares will it take ?, page-6
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EPG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham, CEO
James Graham
CEO
Previous Video
Next Video
SPONSORED BY The Market Online