They are effectively the same company with the same office - i'm pretty sure someone inside would have clued up if this was the case.
GBA offices:
14 View Street
North Perth, Western Australia
Australia, 6006
MMR office:
14 View Street
NORTH PERTH, WA 6006, Australia
BPH office:
BPH Energy Limited
14 View Street
North Perth Western Australia 6006
Australia
The only reason it is distributed amongst several companies is to maintain MMR as a pooled development fund. The only investment these companies currently have is PEP11. The exposure of each company to PEP11 is therefore 100% and there is no difference in value (barring a 10% tolerance due to illiquidity/cap raises).
I've included a sample calculation below to illustrate this:
Direct holdings in PEP11
43.435% MMR
23.307% BPH
15.000% BUY
~8% Talbot Group
~6% GBA
~4% Others
Now we also know that MMR holds 28.44% of BPH which takes it to 50.06%.
The ratio of shares on issue is 156M / 206M = 0.757
And a tax rate on profits of 0.42 leaving 0.58 to keep.
The final ratios come out to be 0.5006 for MMR and 0.2331 X 0.757 X 0.58 = 0.1023
This is approximately a 5:1 ratio in valuation and reflects the current prices of 70c for MMR and 14c for BPH.
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Last
2.0¢ |
Change
0.001(5.26%) |
Mkt cap ! $24.10M |
Open | High | Low | Value | Volume |
2.0¢ | 2.0¢ | 2.0¢ | $49 | 2.459K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 742745 | 1.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.0¢ | 5692976 | 16 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 684745 | 0.019 |
35 | 6971452 | 0.018 |
16 | 3481028 | 0.017 |
19 | 3505833 | 0.016 |
6 | 2383299 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.020 | 5257976 | 13 |
0.021 | 2447000 | 8 |
0.022 | 1656183 | 7 |
0.023 | 2398582 | 8 |
0.024 | 2146732 | 6 |
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