Selfsell, I think the final price will be the $60m plus any cash...

Selfsell, I think the final price will be the $60m plus any cash held by IGC. Assuming all of the options are converted it will be about 182m shares divided by say $72m ($12m in cash + $60m). this gives IGC holders about 39cps.

If you go to the Dec qrtly it sort of explains it there under the heading "Finalised Project Valuation Terms" on page 2.

As for the 2.5m NKP shares given to IGC, well they have a valuation of 14c now but may be worth more by the time the Scheme of Arrangement is finalised. I assume NKP will need to add the value of the shares to the offer price so even at 14c that's $350,000 added to the final cash payout figure.

It may pay you to ring the company. I'm sure they will be happy to clarify this for you.

Cheers