https://www.nzx.com/announcements/315147
Plenty to read here from the meeting.
Excerpt :
"After their valuation experts took a detailed look at the transaction, KPMG concurred that we had made, what the accountants like to call, a ‘bargain purchase
price gain’, and they concluded that the value of the identifiable assets and liabilities we acquired with ArborGen implied a book value of US$124 million for 100% [net of debt]. That is what we are now
carrying ArborGen at in our books. That asset value today, inclusive of cash at Rubicon, implies a RBC share price of circa NZ40cps –i.e. almost twice the current share price."
Several big positives with the company in the last year:
1. Stock overhang out of the way. Still a few loose volume sellers as we saw recently but the stock (4m in total) was put away at 20c and 20.5c.
2. RBC is completely debt free.
3. Aborgen is cashflow and operating earnings positive.