rocket science pty ltd buying, page-14

Just had a look through previous announcements.
Not an accountant but looking at the valuation in explanatory memorandum on 9 jan (number 75)
and half yearly report
they would have held back a minimum of $2m.

9 jan valuation has 38.6c which used $58m sale price.
Half yearly has assets for sale of just over $60m
which would include adjustments.
They returned 38.6c as stated they would.Must have kept the adjustments.Hopefully minimum $2m but maybe higher.
With adjustment after the half yearly,on 15 feb,not
implausible.

Even with $2m,it's about 1.5c cash backing without valuation
of shell.
Just my opinion.dyor