OTCPK:AUMTF - Post by User
Comment by
Red_Deeron May 01, 2008 5:04pm
139 Views
Post# 15029248
RE: NEWS.........
RE: NEWS.........Well the big news came out this afternoon__and I am really surprised that neither CINDY nor VOLUME have posted it here yet?
Basically the news is about ABM doing a deal with their own management/insiders to 'acquire' one more of their private company holdings__this time the Alberta Government sand and gravel operation near Ft. Mac which is being managed under contract by their private company.
The 13.5 million purchase price consists of 7.5 million ABM shares plus 9 million in cash__cash which ABM will now try to raise by means of debt financing.
No details about the pro-forma accretion to ABMs balance sheet and the revenues/profits__but that likely will be in the Information Circular when ABM shareholders get to vote on the deal.
The closing bid/ask on ABM was still 56 cents__but that will likely change tomorrow to the upside on the news.