Hi Cyberguy,
100m of shares is just an equivalent value of getting 50% back had BMG have no issue. I don't mean that CAP has to issue 100m of shares. Instead of having an additional $25m in the bank, CAP has to pay $13m. So the difference is $38m. That is about 125m of shares as at the today"s closing SP.
Ann: Hawsons joint venture update , page-12
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