Yes, do the math, upper Premier paid 29.5 million for 55% that implies the total value of the block was 53.6 million. 15% of 53.6 million is 8.04 million. Where’s the significant premium?
We are only told that Tower will pay its share of the 29.5 million pursuant to the agreement between TPN and Premier. I don’t know what that means. TPN was carried, is Tower now that they bought part of TPN’s share also carried? Or do they have to pay the 4.4 million? Would have to see the agreement to know.
Kenya tells us that in Tower’s NR that they claim they will SPEND 8 million on block 2B, he doesn’t provide a link and the only NR I see on the Tower web site, makes no such claim. Taipan is not mentioned in the filing about the share placement. So I can’t comment on that other to say that Kenya tells us they will spend 8 million then lists 9 million in spending so again I don’t know what to make of that.
I would be happy if anyone could provide a satisfactory explanation.