Some very interesting comments and constructive chat on twitter.
The best for me is the comment around what is the actual debt and value that l1 blantyre holding...is it 200m usd- and secondly what is the value of asc european assets....35m euro h1 ebitda say 70m euro full year- on a 6x multipe or 10x multiple company valued at 420m euro to 700m euros.
If we go with 420 m euro...l1 blantyre would be happy to get 50% of all european assets as a debt to equity swap or even 50% asc. That leaves us share holders with 50% asc or the 100% asc and 50% of european assets.
Either scenario sees us in a really great position....your thoughts?????
IN, in a D/E swap, lets say in this example they set a price of R3 a share, would then we as shareholders have to opt in to sell our shares at 3 bucks ? (in this case i wouldnt mind).
What happens if shareholders refuse but by special resolution it goes through, does the company have to issue equity at 3 bucks for the swap to take place?