gba share price worth more than mmr shareprice, page-11

Compare the market capitalisations of BPH and GBA.

At 8.5 cents per share, the fully diluted market capitalisation of BPH is $18.8 million for 16.6% of PEP 11.

At 21 cents per share, the fully diluted market capitalisation of GBA is $6.8 million for 9.8% of PEP 11.

If GBA is to equalise with BPH, its market capitalisation should be $18.8m divided by 16.6% x 9.8% = $11.1 million.

On a market capitalisation of $11.1 million, the GBA share price should be 34 cents.

[$11.1 million divided by 32,293,508 shares and options = 34 cents per share].