Page 41 of Grant Samuel's expert report really stod out to me....

Page 41 of Grant Samuel's expert report really stod out to me. It really summarizes how good of a deal the BBIG settlement is. I have included a screencap below.

It is the actual versus proforma balance sheets for 30 June 2009. The summary of the differences are these -

- Oakley Power Station worth $46.6m is gone.
- $37.7m of cash is gone.
- A $32.4m fee owed to BBIG is gone.
- $400m of short-term debt is gone.
- There is 11% more shares, diluting our holdings.

- Net Assets increased from $950m to $1,300m.
- Total debt is decreased from $3,200m to $2,800m.
- Gearing is reduced from 75.9% to 66.9%.

For me this settlement seems great. At a cost of ~$80m and share dilution we are rid of ~$430m of debt (12.5% of total debt).

Just pointing out one of my favourite pages of the report. Feel free to point out others if there are more good pages. I am eagerly awaiting the next report.