Sorry , some adj to calculation :
They will have to issue additional 333mln share (i have done mistake in previous calcs) to have 40% stake in equity;
So with 500mln shares now + 333mln to be issued = 833mln shares
The NTA value will be pre issue $260mln (NTA 0.52*500mln ) + 15mln coverted from debt to equity = $275mln
So we will have NTA about 33c per share.
And with upside on revaluation up and hopefully Forex rates will help us we could have good return;
NTA Share Value
Present 0.52 500,000,000 260,000,000
Mez Lenders 0.045 333,333,333.0 15,000,000.0
Possible Future 0.3300 833,333,333 275,000,000
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