Yes, you are right about the DVN revenue but Bloomers revenue is more than a third of DVN's yet Nomad is only paying one twelfth of the DVN market cap to buy Bloomer. Also in the Nomad general meeting notice for the purchase of Bloomer, they quoted Devine's Enterprise value/EBIT as 9.3 whereas they are paying only 2.6 EV/EBIT for Bloomer. It is hard to imagine how the Nomad Board has got it for this price and no wonder all of the directors grabbed the new shares at 5c. I am a top 20 shareholder but I did not get a chance to pick up any of those new shares.
GPASAS
NOD Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
