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07/09/10
11:28
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from the annual report
oakey /cawse held for sale =written down to carrying value=71.516m-70m oakey value=======$1.516m cawse asset book value
debt=80.735m-71.516m debt= $9.87m cawse debt written off in june accounts prior to sale(financial lease value(intangible?).
proceeds of sale =17.5m-9.87 already provisioned for minus 6.73m approx(1yr and 2 mo under dispute)=900k profit as stated
actual profit needs 9.87m added back in to show true proceeds
however we also lose 6.473m finance income ongoing as a result of the sale
oakey and cawse will add $10m to shareholders assets and reduce debt by $87.5m to around $2.83Bn
I think my figures are right
DYOR and then know you've gotta have missed something
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