yet another try to calculate beppa value, page-7

The original article quoted 25 Bn shares on issue after cap raising by CSI. This fits in better with Dargies scenario from 11/9/09

These are his figures.

"so these calcs were not too far away then, if they are talking about 25b shares?

$M
Existing shares on issue 2600
New ords, prefs at 5:1 3500
Sparcs conversion at 15:1 1440
Shares on issue 7540

Price of shares 0.05
Money to be raised 1000
New shares to be issued 20000 3:1 issue @ 5 cents

Total new shares 27540
Equity of company 2895*
NAV per share 0.105


* where equity = 1.6B equity - $500m further writedowns + BEPPA liabilities wiped 700 + SPARCS wiped 95 + new cash contributed 1000. (this does not factor in a gain on sale of 49% of DBCT, if indeed there is a gain and if it actually happens at all)."

This should give the CSI a very good return on inestment(If DBCT not sold and FCF stays at 230million) of approx 16%+ plus leaes something on the table for ords and converted prefs.

I think a scenario like this would get voted in by majority.