GoSouth, worth checking the recent substantial shareholder notices, note the trades around 24 April. might just be a coincidence though.
nevertheless, very encouraged to see Thorney/TIGA with 6.45%, guessing that is in addition to the 7.5mm odd $1.30 strike MNY call options they will pick up via the planned bond issue.
separately, still don't think many get this. very (very) simplified - MNY investible assets (ie cash on hand + current receivables + non-current receivables - trade payables - ST borrowings) was around $58mm as of Dec 31, 2013. now, add H2 cash flow and then add c$30mm from the new bond + c$20mm from the planned securitisation facility.
ie. MNY is almost DOUBLING the asset base off which to generate EPS, without near term dilution.............get it?
my calcs/opinion only, please do your own and research.
pie funds, page-4
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