DOW 0.87% $5.71 downer edi limited

ndl3ss, since you ask,Shares issued 336,582,351Loss of $220M =...

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    ndl3ss, since you ask,

    Shares issued 336,582,351

    Loss of $220M = 220/336.6 = 0.65 cents per share

    Value pre-announcement $6.05 (probably already factoring in a loss via insider trading, high was nearly $9).

    Fair value might be $6.00 - 0.65 = $5.40

    If 6.05 was a fair pre-announcement price than $5.4 would be an upper bound as there is increased risk due to (i) lower cash reserves/risk of recap and (ii) manager risk as they have demonstrated that they cannot write contracts properly. Ooops.

 
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