GRIT NAV IN AAM ALONE31 Aug 2019 13:08
The offer means, GRIT are essentially getting £4,277,026 in their pocket, this is for shares in AAM and all liabilities in Anglo African Minerals (AAM)
TOTAL
US$5.200,000 = £4,277,026
For shares in AAM
US$3,300,000 = £2,714,266
For liabilities in AAM
US$1,900,000 = £1,562,760
Total shares in GRIT
41,964,512
This would mean the offer in AAM alone will give a NAV of
£4,277,026 / 41,964,512 = 10.2p
GRIT WILL THEN HAVE CASH OF £2,714,266 AND WITH NO LIABILITIES IN AAM.
WITH THIS MUCH CASH THEY WILL NOT NEED TO RAISE ANY FUNDS, BESIDES THEY NEED APPROVAL FROM MAJOR SHAREHOLDERS BEFORE THEY CAN INVEST THE CASH.
CASH ALONE OF £2,714,266 WOULD MEAN SHARE PRICE OF GRIT SHOULD NOT BE LOWER THAN 6.5p
£2,714,266 / 41,964,512 = £0.0646.
Current share price 4.3p, expect this to go up on Monday.