Stone are fascinating, I just did some sums. The number of shares on issue is 700m, the loans to the parent in the Annual report is in the order of $28m, so at current share price they would need to issue about 9.3B shares, bringing the total to 10B! if they were to be listed wit this number at the lowest price possible, $0.001, then the MC would be $10m! now that is creating shareholder value!
So the current EV of Stone is -$26m or -$0.03 a share, it does beg the question why the ASX lets a situation like this continue, this is only beaten to the ASX farce award by FTH.
Tubber
SHK Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
