lets not forget that the dividend is also a variable here and it...

lets not forget that the dividend is also a variable here and it is said to be a minimum 2c, AMU required to maintain a minimum cash balance of $14.5m in the kitty, the rest will be paid out to shareholders as a divvie if the transaction proceeds.
So, with 300m shares on issue a 2c divvie represents approx $6m cash, so for every $3m in the bank over and above $20.5m AMU s/h will recieve a further 1c divvie

What the A$ does between now and the relevant date is anyones guess