The decision handed down is open to so much differing interpretation that it would have lawyers jumping with excitment.
One way that you could calculate is to say well at the time of the transaction
MMX had x shares and options on issue Since that time MMX has issued y shares x now represents z% of total number of shares
You would apply the 24% to z% of all gains including all profits and the gain from Mitsubishi investment which was effectively a 50% sale. CHM will argue the final payment will need to be included.
That is what gain is attributed to shareholders as at when the dodgy dealings were done. What has this group gained and take 24% of that.
I cant wait to be told I am dreaming but I reckon this will one of the ways CHM say the gain should be calculated and it doesnt result in a 600k amount.
The court talks about appointing an expert to do the calculation.
This has a long way to go.
CHM Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
