Postman.your figour of $726.818m less say $126.618m for their other assets (I'm being generous) = $600m They hold 105.265m BRM shares. It means their book values BRM @ $5.70 a share? You are even more generous, A$5.03. Any accountant in H/C? Can you look into it for us?.
Re WN finance for T/O They held 80.133m BRM prior to T/O. As @ 15/2/2012 they hold 105.268m. Increase of aprox. 25m shares times $1.5 = $38m They sold Atlas for $28.5m + bond of $9.44m =$37.94m OK they got cash for present acceptors. To get to 90% they need another 17% = 24m BRM. =$36m. where is the money? I think BRM has about that much left in kitty. Are they allowed to use it for T/O? Will they got the 24m BRM for composery T/O? HOLD TIGHT.
BRM Price at posting:
$2.33 Sentiment: Buy Disclosure: Held
