By Chinese company.TKO premium not as high as I expected...

By Chinese company.

TKO premium not as high as I expected ($1.02), however it is interesting to note that there is also a 'right issue' flagged by the company taking it over at 90c per EME shares, and fully underwritted by that company.

As a JRL shareholder, quite happy...as they have indicated they will accept the bid. That's around $33M cash they will receive assuming 70% of the 46.8M shares.

Now its a waiting game to see if there is a superior proposal, and if not, what JRL intend to to with all this cash. I would hope that a significant amount of it will be returned to shareholders as a 'fully franked' dividend (as flagged at their AGM).

Cdchi1