Yep but from a risk mgmt perspective - perversly what a TO loss does is that it clears the decks / uncertainty and at 5c on further punishment ($65m + net debt/tranocean $180m = $245m) NXS then IMHO will be taken over. eg even at 10c + net debt = $310m , cheap for 15% Crux, 100% LT & ES.
I reiterate that what is important from a Transocean loss point of view is if at that time NXS have the cash to pay, the shorters will lack potency because there will be no cap raising and NXS will finally IMHO be that takeover target.
standard proceedure, page-23
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Last
19.0¢ |
Change
-0.010(5.00%) |
Mkt cap ! $55.51M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 19.5¢ | 19.0¢ | $11.22K | 58.81K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 52526 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.5¢ | 4740 | 1 |
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| Last trade - 14.37pm 30/09/2024 (20 minute delay) ? |
| NXS (ASX) Chart |