MICT Inc (MICT)

[novicetrader]

Trying to dig deeper into this, here is what I find:

From the last 10Q filing:
As of November 19, 2018, there were 9,342,115 issued and outstanding shares of the registrant’s Common Stock.

From this present news release:
MICT Shareholders (other than BNN's current ownership, and assuming that no shares of MICT are sold in the tender offer) – 9,048,077 ordinary shares of GFH, representing approximately, 5.27% of GFH

Are they saying each MICT shareholder will get (or is equivalent to) 1.03 shares of the new entity GFH
( 9,342,115 divided by 9,048,077) ?

My brain is hurting trying to figure out the math,lol!