proposed takeover values shs at a$0.1898, page-43

Dart shareholders are swapping just over 2/3rds of Dart for just under 1/3rd of Igas and retaining just under 1/3rd of Dart .

When you look at it like that Dart directors have done pretty well to negotiate this deal .

Dart never had the intention of operating shale - which was one of the attractions : they weren't going to have an environmental accident because they were aware of their own limitations and wouldn't undertake what was beyond them .

Revenue was at least 12 months away for Dart if not 18 months thanks to the hoo ha in Airth - if planning permission is granted and Scottish Independence doesn't get in the way .

Igas could become a multiple thousand employee organisation . Dart could never get the organisation in place to do that .

Looks OK to me - so long as NSW is not sold off on the cheap to you know who .