58,149,494 Number of Topaz shares TOU Owns
So today Topaz is trading for $18.10 this equates to 1,052,505,841 Dollars. (Jan 26)
In the current presentation on at December 31, 2021 net debt was .8 Billion (slide 2)
Now if you take the value of the Topaz shares off that mean their net debt is (252,505,841)
To me this suggest they don't have net debt, when the topaz shares are taken in to consideration.
Also consider this TPZ is currently paying a 5.3% dividend, or .96 cents a year, which translates to dividend income for TOU of 55 million dollars in dividend income.
They could service a lot of debt is my guess with 55 million in dividend income.
So this is why i would be so bold to suggest their debt is zero in fact they have the equivalent of 250 million dollars in the bank.
IMHO