More ponderings, If Woolies were the sellers of the large number of shares a couple of weeks ago what would be the outcome of that sale?
It looks like they sold about 20% in the first week if so thats 20 million shares Gage does not need to buy back, a savings of aprox $600K and because those shares were traded prior to the closing date the new owners could then take up the offer for the rights earning another $500K.
After paying for costs of the reorganisation, the loan repayment and the buy back from woolies (at the reduced quantity) this extra $1.1 Mil. plus the 15% placement should leave about $4.6 Mil. in the kitty, a tidy little nest egg.
These figures are speculative as we don't know if Woolies were the sellers or how many they sold, but it is an interesting scenario.
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More ponderings, If Woolies were the sellers of the large number...
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