excelsior - Given the details of the merger, I think AZX will be looking for considerably more than $5m. They need to fund the OpCo and they also need to take cash into BBG if they want to maximise the % of Bullabulling for their shareholders.
As expected / hoped, no free lunches but also, AZX did not get screwed.
The OpCo prevents a predator from scooping up the Bullabulling asset and the new management team will hopefully ensure that the correct level of focus is given to this fantastic asset moving forward. In 12 months time we will hopefully have an equivalent shareprice of many multiples of today's. I'm quite happy with the result - hopefully we see an immediate improvement in our fortunes!
AZX Price at posting:
44.9¢ Sentiment: None Disclosure: Not Held
