Transaction cost of about $7 mln?Did you guys see that?
Gear Est. YE 2024 Net Debt (Incl. Transaction Costs) $MM ($10)
So if the debt is $2 mln to $3 mln at the year end then transcation cost id about $7 mln to $8 mln. That is highway robbery. If they are willing to lose that money to a transaction alone - why not just borrow the money and do a buyback instead. They could buy back 16 million shares for that amount and continue paying divs, at the same rate that would have been a reduction of 6% in monthly dividends.
One need to be a financial masochist to vote yes to this. If Newco has a potential as they say it does then Gear has even more potential.