Yesterday's GBA closing price of 40 cents per share a healthy premium to GBA share price a month ago BUT still perceived to be chronic undervalued ....
Part A - GBA's listed investments ASX codeQty Amt/Share Amount MMR 9,747,362 $0.700 $6,823,153 MMRO 7,310,522 $0.550 $4,020,787 BPH 6,778,200 $0.115 $779,493 $11,623,434 GBA Shares issued 28,193,508 Amount per GBA share $0.41 This is somewhat close to yesterday's GBA close price of $0.41 per share
BUT what about GBA's 8.75% (as per ASX announcement 5 July 2010 of unlisted Advent Energy) Part B - GBA's investment 9,500,000 Advent Energy shares
Scenario (i) - If calculated on number of shares currently issued basis ASX code Qty Amt/Share Amount % of Advent MMR 118,351,044 $0.700 $82,845,731 51.14 GBA 28,193,508 8.75 GBA deemed prorata $0.50 $14,174,817
Scenario (ii) - If calculated on the shares if all options exercised then total shares ASX code Qty Amt/Share Amount % of Advent MMR 181,556,387 $0.700 $127,089,471 51.14 GBA 32,293,508 8.75 GBA deemed prorata $0.67 $21,744,874
Part A - GBA;s listed shares $0.41 Part B - GBA's Advent Shares $0.50 Conservative - Scenario (i) GBA share price heading towards $0.91
GBA has other interests such a shares in Molecular Discovery Systems (a potential ASX IPO), that not factoring into the above calculations.
As usual DYOR
GBA Price at posting:
40.0¢ Sentiment: LT Buy Disclosure: Held
