GB Group Ord Shs GBGPF

GB Group plc is a United Kingdom-based company, which provides identity data intelligence products and services helping organizations recognize and verify all elements of an individual's identity at key interactions in their business processes. The Company's segments include location, identity and fraud. The location segment includes address lookup, verification and capture; e-mail validation; phone verification, and data maintenance services. The identity segment includes document verification, data verification and identity investigation services. Its identity verification solutions can be configured to carry out a wide range of functions, including know your customer checks, anti-money laundering checks, age verification checks and liveness detection. The fraud segment includes transaction fraud monitoring, combating origination fraud and in-life fraud investigation services. It provides artificial intelligence powered screening for automatic onboarding or referral of customers.

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GB Group Ord Shs > Mar 9 - Notice of Change now on Sedar

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Comment by Sbeavenxon Mar 12, 2018 9:06am

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Post# 27699492

RE:RE:RE:RE:RE:RE:RE:RE:Mar 9 - Notice of Change now on Sedar

MJ, looks like you were correct. I didn't adjust for the 700k Aurora owned CMED shares that have no cash allocation. By subtracting the 700k shares from the shares tendered, and then multiplying by $5.70, it comes to $98 million (rounded), the same as the press release:

(17,847,341 - 700,600) * $5.70 = $97,736,423.

This means that cash seletions likely far exceeded available cash, so proration of the cash will take place.

Not sure why Laurel Hill told me otherwise???

longonMJ wrote:

Sbeavenx wrote: They're not to bright if they they calculate financials like that.

Let me give you a more diffinitive calcualtion that you can't dispute. We all know that there is $5.70 available for each CMED share outstanding. So the simple calculation demonstartes the available $ for this take-up (exact calc so there is no question):

17,847,341 * $5.70 = $101,729,843.70

So, since $102 million should be available to the first round, and only $98 million is to be paid, then the selection of the cash option did not exceed the maximum, and therefore no proration.

This is only based on the published numbers, but Aurora press releases have struggled to report accurate numbers in the past. Given what they are reporting, we should get full cash if selected.

Oh, I am in total agreement with you that it's definitely mathematically possible for each share to receive $5.70 if that is what you meant by full cash per share.

From your previous posts, I thought you was referring to the entire $43 per share as being "full cash". From my point of view, I see your now started $5.70 full cash paid out portion to be what I would call a proration of my full cash paid out portion of $43 per share.

I guess it's really nothing more than different definitions by the two of us as to what the term "full cash per share" really means. For you, it's $5.70 per share while for me, it's $43 per share.