| Subject: Re:Total number of shares options 972,086,550 2/2/2002. |
Author:
Steve Bonkers.
|
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Date Posted: 16:41:09 02/01/02 Fri
In reply to:
Steve Bonkers.
's message, "Re: Use this for some share based ratio work (daytrader buy in points)---info Hotcopper" on 01:39:09 01/29/02 Tue
Total number of shares and options 8.17%
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The consolidated entity to date so far has incurred $3,189,000 relating to SITS contract 2001. (Sydney)
Adding all the options together to the total number of shares on issue so far I make 948,98679 plus director employee options/shares
of 23,100,550 equaling 972,086,550Dividing by 8.4% (ie this was the figure ERG stated was the amount of capital owned in stock that was exchanged with the companies behind the consortium in Germany) equal 8.16552702% 8.17% rounded.
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The short answer to your question though is yes the 75.5 million shares are added to the 848 million tradeable shares. Additional to the 848 million, there are further underlying directors options and so forth a figure of 923.5 million shares is obtained, factor in the remaining Motorola convertible notes 5.8 million in number that are exercisable into 17,486,797 shares adding that figure to the 923.5 equals 940.98679. Adding 8 million options (if certain performance criteria is met.), it does not state what the conversion ratio is assuming 1 for 1-- 948.98679 x 8.4% = 7.971489, haven't added up all the directors options yet will do so later, it does state the figure of 8.4% is approximate, I'm sure but cannot conclusively state untill I check, that it would as ERG have filed in the media release equate to 8.4% of ERG's capital, a close look at the wording once again however confirms that as the word "issued" has been omitted, the options quoted have not been exercised yet.
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Support is 0.389403939c rounded.
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http://www.protonworld.com/press/exhibitions.htm
Proton World will be present at the following exhibitions and conferences:February 2002
UITP
Peter Stroo (Product Manager Proton World) will be speaking.
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75.5 million divided by 58.8 million equals 7788079 dividing the figure by 2 equals 0.3894039 39c rounded. (ERG's net asset backing before J.B. Weres figure.)
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The ERG Group today announced the full acquisition of Belgian-based Proton World International (Proton World), the leading, global, high-security payment and identity smart card technology company. In consideration, ERG will issue the former shareholders of Proton World - American Express, Banksys, Interpay Nederland and Visa International - with approximately 75.5 million shares (representing 8.4 per cent of ERG's capital). In addition, ERG has agreed to pay cash consideration of approximately A$58.8 million.
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Resistance at 41.85430 42c rounded.
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ERG advises it has successfully completed its $104 million rights issue. 207,974,122 new shares have been allotted to shareholders and Shareholding Statements despatched on 4 January 2002.
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Amount paid additional to the issue of 75.5 million shares was 58.8 million ERG raised 104 million 104 minus 58.8 equals 45.2 million.
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Divided by the 75.5 million shares issued to American Express, Banksys, Interpay Nederland and Visa International equals 5986754 60c rounded-----5986754 minus 3894039 equals 2092715 twice 2092715 equals 41.85430 present share price 41.5c -----21c rounded.---twice 21 equals 42c
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Dingo37's bullish reversal figure.
Cheers,--BK.
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The directors have executive options totalling 825.000 they are exercisable on the 1/11/2002 upon cessation of employment they lapse, the expiry date on them is the 1/11/2010 the exercisable price is 3.23 fair value under the Black Scholes method is determined to be 2.26.
Interestingly enough if you halve 3.23 several times--ie half 3.23 equals 1.615 half 1.615 equals 0.8075 half 0.8075 equals 0.40375 which is around the present share price of 40.5 1/2/2002.
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For brevity using the financials/options as a guide two support levels one is 0.40375, the other is 0.3894039--39c rounded.
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