Eastern Holdings

[opmi]

If Eastern is valued at $100m mkt cap (33 cts per share), it only costs $18m cash to buy out all minority shareholders.
There is >$18m cash in the company.

I guess another consideration is whether the GO price would be enough to entice at least 8% (24 mil) shares to accept so that it crosses the 90% mark.

To cross 90% for delisting or Compulsory Acquisition (CA)?

For MBT (Tay's takeover vehicle) to invoke right of CA, MBT has to acquire 90% of the outstanding shares (EXCLUDING those shares already owned). That means MBT has to acquire up to 98.2% of all outstanding shares to do CA.

So MBT's easier route to privatise Eastern will be via delisting EGM with an Exit Offer.