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21:42
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Originally posted by serena
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RTO (Reverse Take over) is only a terminology. What is it and the mechanism? Basically, ODN will acquire gridComm 94 per cent or 100 per cent without payment in cash to gridComm shareholers but the shareholders of gridComm will be given 169 million of ODN's shares post consolidation + the right for performance bonus. After the approval by current shareholders in the general meeting, the current shareholders and ex gridComm shareholders will own ODN and ODN will legally own gridComm 94 per cent or 100 per cent. The percentage of equity ownership of current shareholders and ex gridComm shareholders in ODN will depend on the consolidation ratio and the number of shares to be issued during CR. It looks like the CR will be largely oversubscribed and they may obtain $7.5 million from investors instead of $4 million.
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Wrong..if not like the terms console ratio odn is broke..hands behind back thing..no one knows what it will be..its a tool to make it happen no matter what happens to odn share holders value..stewed to the hills..all based in my option of course..
