It could be a little more on my numbers as they've had a bit of a windfall with the currency movement...net 5 to 5.5c capital return or say 7c of value as a shell before you back the asset in (assuming that the asset is vended in at fair value)...burn was lower in last qtr as well I reckon as they pulled in advertising spend and other costs in the lead up to the asset sale...they didn't use bankers/advisors either I understand.
A good little 50 to 75% arbitrage for a 3-4 month position
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