to me the immediate driver of ARD sp is the USN price that rose 2c today to 15.5c This is very significant to ARD holders when we are to receive just over 1/2 a USN for each ARD we hold.
Pre the announcement to buy Bullant, ARD was trading at 15c. We have had a recent raising @ 16c. with 13m shares issued. But to counter that Kempfield has progressed.
To me ARD 's value is around 16c + the value of USN allocation. Further progression of Kempfield and any USN appreciation will increase this. This USN allocation is not insignificant and they may even be worth holding. I would expect that smart management would give us an update on Bullant prior to allocation as that may sway ARDers to hold their USN.
ARD Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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