So yesterday:
Shares on issue 409,051,378
50% of Clearwood $27.5m ($55m)
31.7% of Arborgen 31.7m (random valuation of 100m)
$25m net cash equity
Total asset value $84.2m (USD)
0.2058 cps asset value (0.28 NZD)
Today:
Shares on issue 487,908,378
50% of Clearwood $27.5m ($55m)
100% of Arborgen 100m (random valuation of 100m)
$8.5m net cash equity ($25m less remaining 16.5m cash due for purchase)
Total asset value $136m (USD)
0.2787 cps asset value (0.38 NZD)
35% gain in asset value per share
This assumes that the remaining $16.5m not funded by share placement is to be bank loan (or even better paid in full from yet to be announced capital from the unreported 15 month period to Oct 17’)
Either way I like this
Asset values used are somewhat meaningless in my example. It’s very much educated guesswork. My interest is more with the % of asset gained per share.
I feel $29m USD purchase price of the remaining 68.3% is exceptional buying
Feel free to rain on my parade and point out flawed logic…