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[oxs] 25/1/2019 09:36

It's pro rata if it's 80/20 split... Otherwise it would be "the first 12m go to, the next 3m go to, then it's a 56/44 split"

Pro rata... As written 80/20.

[oxs] 25/1/2019 09:34

I would say it is 100% pro rata mate it would be a weird way of splitting it if it wasn't.

[zcaprd7] 25/1/2019 09:32

There you go, quite crucial to know...

[oxs] 25/1/2019 09:30

We'll they say..

For the first 15m it's 20/80 split... That's probably rata.

Worth reading the articles of association

[zcaprd7] 25/1/2019 08:09

I couldn't find the words for that...its sort of implied?

[oxs] 25/1/2019 00:39

It's valued at cash ATM so anything here on in is a brucy...Nav is around 0.65 ATM.

[oxs] 25/1/2019 00:38

Pro rata mate

[zcaprd7] 24/1/2019 23:09

How is the first $15m split then, pro rata, or do the prefs get the first $12m, then the final $3m to the ords?

[zcaprd7] 24/1/2019 17:20

It would be nice to know the cash balance, wouldn't it?

[oxs] 24/1/2019 15:34

Rise on the ords

[zcaprd7] 23/1/2019 10:33

Drop on the prefs...

[zcaprd7] 22/1/2019 12:06

Welcome aboard, what is the actual buying price now?

[comedy] 22/1/2019 09:03

well just joined you guys this morning:)

[oxs] 21/1/2019 15:10

Although we could, given any newbies don't understand the pref situation, overshoot the mark somewhat... So worth keeping an eye on all the same.

[zcaprd7] 21/1/2019 14:46

No worries, my point was, that the spread and price action are irrelevant, as I can wait for the final breakup return of cash...

[oxs] 21/1/2019 14:08

Right. Apologies. We'll fingers crossed their integrity remains in tact.

[zcaprd7] 21/1/2019 13:50

They are supposed to liquidate their holdings and return the cash...

[oxs] 21/1/2019 13:14

Why on earth would they liquidate ? They have no debt FFS. You can't read a company like this on some random bell end traders who sell out in 4 days for a 60% loss.

[zcaprd7] 21/1/2019 11:54

As you say, piddling volume, I'll wait for my brokers to get paid when they liquidate...

[oxs] 21/1/2019 10:36

Zcaprd7 - those 2 sales this morning were a trade put through on the 17th at 0.39 running for the hills... Nothings changed & we continue to wait.

[oxs] 21/1/2019 09:20

I don't personally think the market knows what it's on about... Weird drop tho on very little volume.

[zcaprd7] 21/1/2019 09:03

It doesn't seem that the market agrees?

[oxs] 18/1/2019 16:25

From the more recent results:

"We expect however that our cash position plus disaplined expense management will enable us to obtain fair value for our remaining assets without the need for a fire sale."

So with $6.5m in cash, areasonable sale price on Celadon & we are well in the money!!

Remember this bod army part of the problem, they are here to sort it out!

[oxs] 18/1/2019 16:07

Actually now got around $6.5m in cash.

Another $8.5m cash and the ords are on a 56/44% split

:D