GB Group Ord Shs GBGPF

RE:RE:RE:shares/cash numbers, tendering date extended

[StrongLong]

longonMJ wrote: Almost right, but not quite. 

I believe this 2.9493X Aurora shares + $5.70 per CMED would apply ONLY IF ALL 100% of this 17.85M tendered shares had all selected the all-cash Option 2 without any exceptions at all.  Since this was clearly not the case, then it means the dollar cash amount for those selecting the all cash option will certainly be higher than $5.70 per CMED share owned.  For example, if exactly half of the 17.85M tendered shares opted for the all-cash option, then I believe the cash portion of the payout should then amount to $11.40 (i.e. $5.70 X 2) for each CMED share owned.

Of course, this then presents the opportunity for a rather puzzling situation for the pending 2nd round of this takeover offer.  For example, if the share price of Aurora should somehow manage to rise to say $13.50 or above and stay there, then the remaining 29.34% of the would all be tempted to go for the all-share Option 1.  If this actually happens, then this would mean that Aurora would not have to pay out any of the remaining $42M dollars that has now been set aside for the remaining untendered shares.

Ahhh..........a second opportunity for Aurora not having to pay out any cash for the remaining untendered shares.      Hmmm..........

StrongLong wrote: Ahh now I see. That's why it's 98 million they are still reserving the other 42 million for the 30% of shares that have yet to tender. This suggests the ratio will be 2.9 + $5.70 Woosh I wonder how much ACB shares are going to be dumped in early April lol.

The fact that 70% of the shares have been tendered and 70% of the $140 million is spoken for is no small coincidence. You're right I was incorrect in assuming it will be $5.70 + 2.9X I wasn't thinking it through.

It will almost certainly be less than all cash $43 because the full 70% of the cash is reserved for 70% of shares tendered. Suggests there's a surplus of people electing for cash and some portion of shares will be issued for those that elected for $43.
there's no way to know the ratio but as said above almost certain it will not be full $43 which we all knew anyways.