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21-06-2013, 10:59 PM
Since Nick talked a little about the potential upside, i would like to explore on the potential downside.
- TBC was divested in the form of APTT IPO and MIIF received both total cash/equivalent units worthed ~522mil.
- Mgt had previously set a hurdle of 695mil (total divestment) to get their 15mil bonus.
- To get their 15mil bonus, Mgt just needs to sell at 695-522 = 173mil.
- After net of fees, this can be regarded as the floor price = (173 - 15)/1150 = 0.137 , or another 19% downside from last closing price.
(vested)
- TBC was divested in the form of APTT IPO and MIIF received both total cash/equivalent units worthed ~522mil.
- Mgt had previously set a hurdle of 695mil (total divestment) to get their 15mil bonus.
- To get their 15mil bonus, Mgt just needs to sell at 695-522 = 173mil.
- After net of fees, this can be regarded as the floor price = (173 - 15)/1150 = 0.137 , or another 19% downside from last closing price.
(vested)