Is that a guess? Why raise at 20c when the last price was 0.335
This is the latest from The Australian ...
Popular cook and TV personality Maggie Beer has struck a $10 million windfall from the sale of her remaining 52 per cent stake in her Maggie Beer Products food business, after agreeing to sell out of her family-owned company this morning.
It adds to the $15m Ms Beer raised from selling an initial stake in Maggie Beer Products three years ago.
At just before noon the details of the deal were released, with Ms Beer inking a deal to sell the controlling stake in Maggie Beer Products for $10m in a mix of cash and shares to publicly-listed food company Longtable (LON).
A deal document obtained by The Australian shows Longtable will buy the remaining 52 per cent stake in Maggie Beer Products it doesn’t already own for $10m, made up of $9.5m in cash, $1.5m in Longtable shares and a $500,000 convertible note.
LON Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
