RE: Recommended Cash Acquisition5 Dec 2022 11:38
How on earth can cash be counted as a "premium"? The only possible way is if it were fully distributed to the shareholders pre-overtake. Since I doubt that will happen, are these people dumb for real?
"Adjusting for Wentworth's existing cash of approximately US$30.2 million as at 1 November 2022, which was equal to approximately 12.9 pence per Wentworth share, the Acquisition values the business and non-cash net assets of Wentworth1 at approximately £37.1 million. This represents a premium of approximately 62.2 per cent. to the closing price of 25.0 pence per Wentworth Share on 2 December 2022 (being the last Business Day prior to this
Announcement) when this closing price is similarly adjusted for cash. "