IMHO, This situation is akin to , the devil and deep blue sea !!
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IMHO, This situation is akin to , the devil and deep blue sea !!
The details are in the presentation, not sure why they didn't clarify it in the actual disclosure.
Check page 5
http://nzx-prod-s7fsd7f98s.s3-websit...199/299443.pdf
Will still be $60m/$70m of intangibles on the books even after writing off $107m
No doubt buying centres in Australia will create another lot of intangibles but heck they have a 4 year payback ...that’s good
Probably thought about all the NZ centres they bought as well
You've got to be really bored to read 43 pages of complete @#%&*. It should be plain for all to see this is a three legged mange, flea and cancer riddled mutt which I have been correctly calling on here as such, for years.
Better off spending your money on lottery tickets and probably more likelihood of winning big lol
Anyone silly enough to throw good money after bad with this one deserves what's coming to them.
Might have a read at some stage just for comedic reasons and because I do love a good train wreck, it teaches you what not to do in business.
Underwriter and sub underwriters to really get their "boots filled" with this capital raise...you read it from me first.
Talk of building things is just a load of window dressing...it was this capital raise or a super slow motion train wreck to receivership in my opinion.
Bank probably realised this and told them to raise capital "or else"
Suppose they needed to do an outrageous thing like a 4.4 for 1 offer (at 8 cents)
A 1 for 1 at 35 cents might have been a hard sell
Interestingly even after raising $63m and if the share price jobs to 10 cents EVO’s EV will still be about $90m. ......but that will go up as they spend the $25m in Australia
Forecast ebitda f20 maybe $15m so if historical ev/ebitda of say 7 maintained reasonable share price about 11 to 12. ......so 10 cents next week might be about right.
I would predict a drop to around that 16 cent mark,(on opening)where they might expect some support.Then a steady decline down to winners 10cent mark which might well be a psychological support level.
Time will tell,just glad I am not a holder anymore.