The current bids $3.00 & $3.60 are clearly rediculously inadequate for all the assets and potential market share to the successful bidder. Not only are they too low but there was no divi or special divi offered,which could have been paid from the franking account balance.
An IPO would quickly erase any outstanding debt in COA turning a small outlay into a quick fortune enabling Carlye to exit if they choose to.
Westrac have 66.2% Elph have 21.93% leaving minorites with 11.87%
Elph(William Adams) needs to shore up his position real soon following the independents report submitted to the NHR IBC by possibly teaming up in partnership with fellow CAT dealers of the likes of Cavpower & Hastings Deering consider a joint offer @ $5.00 per share before any other interested party like a PE player ie. Next Capital,GSJBWPE & large fund manager considers expanding their portfolio of investments.
There is plenty of capital just sitting on the sidelines waiting for the right investment opportunity,well this is it!
Franking credits alone in NHR are worth about 30c.
