No its psrt cash part shares. The shares component will...

No its psrt cash part shares. The shares component will fluctuate dependant on the price of evn when the offer is taken up. Hence if evn is 1.50 it is more enticing than at 1.00. So the offer is made at evn 1 dollar hence the valuation of 12c. If evn is at 1.50 your pxg shares r worth 15c as the cash us fixed at 6c but 0.06 evn shares per pxg has increased to 9c from 6c. So at 100000 shares u will 6000 evn shares and 6000 dollars. So at todays price you will fetch 13800. This is why evn sp is followed by pxg. Also as a minimum value of 15c plus is required evn will need to pass 1.5 brfore offer rxpures to tempt more sellers from pxg. The best way to look at is u becone an evn holder with pxg assett exposure and a 6 c cash per holding.