Sep. 18 at 1:49 PM
$BROGF https://finance.yahoo.com/news/brooge-energy-limited-announces-extraordinary-111000963.html
looks like going forward and nearing completion.
4 shares of gulf nav with a 1 year lock up
$0.65 per share
right to buy 20 gulf nav mandatory convertible bonds at 1.25 aed convertible to shares with a 1 year lock up from conversion.
current price of gulf nav shares: https://finance.yahoo.com/quote/GULFNAV.AE/
current assumed worth of brogf at 6 aed (vs 8 current price) and 20% per year discount (for conversion time) + adding 25 aed for the 20 mcb's (=
$6.8) :
4 x 6 aed x 0.80 (1 year delay) + 2.39 aed (=
$0.65) + 20 x 6 aed x 0.80 x 0.80 (2 year delay) = 98.39 aed =
$26.76
current brogf =
$5.35, so at 6 aed per gulf nav you get in two years a decent return. after one year, you get 4 shares to sell @
6 aed (my assumption) =
$6.5. at year two you get 20 shares
worth (by my assumption) 120 aed =
$32.64.
total potential 2 years: (
$32.64 +
$6.5) / (
$5.35 +
$6.8) = 3.23
that would be 80% per year return over two years.
good luck to all.
