Current Book Value: $5.87 !!The yearend annual report shows that the current book value is $5.87 !!
Waterhous stands to "make" about $3.32 on each share that is tendered to their ridiculous offer. Moreover, the loss for 2017 is based on an impairment charge of $75 million that is being taken on assets that are "held for sale". The sale, when completed, will improve the balance significantly (debt would be to 320.9 - 101.2 = $219.7 million)
Cash flow per share, for 2017, was positive - to the tune of $0.67 per share (impairment, like depreciation, is a non-cash charge)
I am anxiously awaiting Q1 2018 results, due May 8. I think that it is possible that we will see a PROFIT for the quarter (provided that management does not "FIDDLE THE BOOKS"). You will all have time to tell them, advance of the AGM, that you want to hold on to your undervalued shares - at least until Waterous makes a more reasonable offer.
Failing that, I hope that someone initiates a class action lawsuit !!!