The PR says the aggregate purchase price would be $12,300,000 at $5 per share, so that must mean they are trying to buy about 2,460,000 shares ($12,300,000/$5). If they own 90% of the shares, then the O/S must be about 24,600,000.
NEW YORK, Aug 9, 2002 (BUSINESS WIRE) -- The Board of Directors of Baltic Oil Holdings Limited ("BOHL") has approved an agreement and plan of merger to merge Oil Baltija Group, Ltd. of New Jersey ("Oil Baltija") (OBGL), of which BOHL owns approximately 90%, with and into BOHL.
Upon completion of the proposed merger, each share of Oil Baltija not owned by BOHL would be converted into the right to receive $5.00 (five dollars) in cash, for an aggregate purchase price of approximately $12,300,000 for the shares not owned by BOHL. |
