RE:CRAFT: CJ + PLX + MEI shares (CJ pays dividend too)So, adding it all together I get:
- 4,000,000 Cardinal shares, which are currently worth $6.35, for a total of $25.4m
- 3,350,000 Point Loma shares at close (down from the initially announced 4m), which are currently worth $0.54, for a total of $1.8m
- $6.6m of Manitok shares
This comes to $33.7m. Fully diluted, there are 253,000,000 shares of Craft, which means that the shares-to-be-distributed come to $0.133 per Craft share.
For those who want to convert this into Chinook shares (whose shareholders got 70% of the Craft shares), this should be $0.093 per Chinook share.
Does that square with everyone else's math?
stockfy wrote: The old CKE shareholders will receive CJ, PLX and MEI shares once the MEI deal is completed.
Since the old CKE shareholders (those who bought CKE before the Craft spinoff of December 2016) receive shares, these shares will appreciate as a result of rising oil prices by 2018, so they will also increase their final returns by 2018 if they hold these shares for a few months.
Add also CJ's dividend to your return because CJ pays dividend too.
When I read Value Digger's CKE articles on Seeking Alpha, some "guru" posters and commentators alleged again and again that Value Digger was wrong and CRAFT's value was ZERO.
I'm sure today's deal (after the CJ and PLX deals) ruined their day once again.