Ann: Response to ASX Query re Appendix 4C, page-20

1.5% of double fum or $1.5 bill equals $22.5 m. Or just over 50c share price. So if use current fum, then 25c?
Yoda guess that unless there is an E or Dividend, we rely on simple metrics.
1% to 3% market cap to fum, depending on stickiness of fum etc
With CGA , fum mix dictates lower end of range.
Cost/Income ratio dictates lower end of range. CGA spreads itself very thin across the whole range of products. Economies of scale severely dented. Not like a fundie who offers large cap only. Once this fundie hits break even, for all new mandates, revenue falls straight to bottom line. With CGA, every new fund or strategy need bodies.
No to mention the quite urgent need for financing. CGA not in good bargaining position. Financiers are. Financing will cost money or maybe dilute existing shareholders?
Yoda concludes 1.5% market cap to fum ratio, good number to use.
So kmpkf, try all sorts of permutations and combinations.
Same conclusion.
Below IPO issue price of 60c. Maybe much below?
So current share price not of interest. Hence, astute move by Mr Packer.