TLL - TIL Logisitics Group [was BIL - Bethunes Investments]
Cashed up shell from the old Mowbray Collectables Ltd, could be worth a wee punt, I see that uncle Ron is a small shareholder, nothing to do with its now different direction ( investing is small listed companies ) but a legacy holding from day of yaw !!
[Mod add] Now TIL Logisitics Group by reverse takeover
Reading between the lines
Following the money what I actually see here is the existing owners of TLL leveraging up the company debt to take out $90m of cash and retain about 90% ownership of the listed company.
Anybody got access to the TLL annual financial results for the last few years to make a reasonable guess of value?
Best Wishes
Paper Tiger
A lemon tree my Dear Watson
Quote:
Originally Posted by
blackcap
Hi PT, that does seem interesting. Is this the rationale for the backdoor listing do you think? I see they are borrowing $100m and then using 90 odd mill to pay out TIL shareholders.
Where do you get the bit that TIL shareholders retain 90% of the shareholding? I cannot find that there myself.
Cheers,
If I read the doc right then with the 'New BIL' shares:
approx 0.5M go to current 'Old BIL' holders;
approx 73.3M to TLL owners;
a minimum of approx 6M to new investors.
Which would give current TLL holders 91.6% (or less) of 'New BIL' which is:
indebted TLL.
There you go
Paper Tiger
"Twenty to thirty years" to quote Chris
Quote:
Originally Posted by
whatsup
slowly slowly catches the monkey !
Make of it what you will:
https://www.youtube.com/watch?v=IpJmpClJi4E
Best Wishes
Paper Tiger