Chevy, your calculations make perfect sense and would agree that the value of each share would be around what you say, given that the O/S was around 1.07 mil. Now a big question is if the 9 mil. plus shares are restricted insofar as selling in the open market. Is there a lock down period for selling?
I don’t think that OPCB would want to sell any shares at this time, and maybe not for along time, until the PPS reached some respectable levels. More information from both banks regarding this deal would be very helpful.
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