Tibbs ur posts are hilarious..wat makes it more hilarious is...

Tibbs ur posts are hilarious..wat makes it more hilarious is that ur a HC top 30 poster

Let me correct some of your misleading/incorrect statements so far today with some approx figures

"Pop quiz: If today they paid $40 mill for 51% of GBE ... How much is 100% of GBE worth at the above market value?
Answer: $80 million ... divided by 94m shares on issue = $.85 cents. I take off 20% to be conservative & arrive at a current valuation of GBE of $70 cents per share.
The ECE offer has effectively put out a base case MARKET VALUE for GBE - If ECE, wer to make a full takeover offer for GBE, the minimum price is $.70 cents"

First of all they are not paying $40 mill for 51% of GBE TODAY (i.e. GBE has 94mill shares on issue today)
They want to pay $40 mill to get an ADDITIONAL 120 mill NEW shares in GBE (which effectively will give them a 51% holding of GBE if/when this transaction happens)
Yes 100% of GBE is worth $80 mill ...BUT ONLY if the above transaction takes place (i.e. an additional 120 mill new shares would have been issued)
Therefore your figure should be ....$80 mill divided by 214 mill shares on issue = approc $0.37 cents PER SHARE

"They are not getting the 51% for free .. while there will now be dilution, giving GBE a total MC of $120 mill - the company will have $40 mill in the bank, which must come into calculation."

"Quoting your figures, post deal, they will have 220m shares for a MC of $78 million.
But that same company will then still have 100% of the same projects PLUS $40million in cash. So immediately post deal, what would GBE shares be actually worth - cash + project values?"

Wow $120 mill MC...im assuming u added $80 mill (100% of GBE) with $40 mill cash to give u a market cap of $120 mill.....interesting...i never knew ECE were paying an additional $40 mill after holding 51% of GBE
so you agree with Tawnyport values of 220 mill shares with a MC of $78 mill right?
so pre-deal GBE had approx 100 mill shares with a MC of $38 mill and post deal GBE have approx 220 mill shares with a MC of $78 mill.
Do you not understand that the $40 mill difference in MC pre and post deal is because of the $40 mill cash that ECE have paid?
You DO NOT add another $40 mill to the MC post deal like what u have done irrespective of whos point of view you are looking from..current shareholders or chinese side

Hope this helps clear ur understanding as these are really basic calculations that everyone seems to understand except you.

Anyway...im holding and voting against this deal