Renergen General Discussion, page-2314

28 March 2022 they announced 10% of Tetra4 to be sold for R1b when the RLT shareprice was at about AUD3.50.

Late Dec 2023 some 21 months later Renergen sold 5.5% to MGE for R550m. With at a guess a further 4.5% to be sold to someone else for 450m.

So even though the RLT had dropped to about AUD1.00 in late 2023 from AUD3.50 approx 21 months earlier the valuation of Tetra4 was unchanged..

Similarly at a guess the remaining 94.5% of Tetra4 held by Renergen valued at 9.45b zar or AUD757m will serve as the price basis of the NASDAQ ipo to raise about US150m.