CNH 0.00% 7.4¢ china steel australia limited

I am confused. Does anybody understand this?I can see that...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 2,083 Posts.
    lightbulb Created with Sketch. 32
    I am confused. Does anybody understand this?

    I can see that Jadefield, China Powerplus and Ms Zhang Guangxia hold 95.2% of the shares.

    So they intend to buy out the operations of the company for $2.6m and the cancellation of their shares? So that is like a $2.6m buyout of the remaining 4.8% of shareholders? That is like valuing the operations at $54m. That is the equivalent of $0.112/share. But that maybe it wouldn't be a capital return, just $2.6m sitting in the company coffers.

    But then I don't understand Stage 2, the New Main Undertaking.

    I could easily be wrong in my understanding.
 
watchlist Created with Sketch. Add CNH (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.