How a power station sold for peanuts became a $730 million asset
In November 2015, the NSW Government offloaded Vales Point Power Station — an old, polluting coal-fired plant on the shores of Lake Macquarie — for $1 million...Sunset Power quietly released its latest financial reports — revaluing the Vales Point Power Plant at a cool $730 million.
The shareholders, who lent Sunset Power the money to buy the old power plant, pocketed nearly $40 million through a share buy-back by the now cashed-up company. The shareholders are companies associated with Trevor St Baker, an energy industry veteran and former engineer with the NSW and Queensland electricity commissions, and Brian Flannery, a BRW rich-lister who owns a suite of mining, energy, and property assets.
http://www.abc.net.au/news/2017-10-...for-peanuts-becomes-730-million-asset/9077582
The wizard of Oz can do magic with this stock, too.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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1 | 35710 | 2.8¢ |
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Price($) | Vol. | No. |
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3.8¢ | 10000 | 1 |
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No. | Vol. | Price($) |
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2 | 273000 | 0.100 |
1 | 495464 | 0.090 |
1 | 3936 | 0.085 |
1 | 296201 | 0.080 |
2 | 666600 | 0.079 |
Price($) | Vol. | No. |
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0.105 | 46373 | 2 |
0.120 | 100000 | 1 |
0.130 | 500000 | 1 |
0.140 | 48559 | 3 |
0.150 | 70000 | 1 |
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