Greenheart has issued "a mandatory general cash offer" by the NewCo to buy public shares, debt and options.
It proposes to spend USD$ 7.3 million to buy convertible notes with a USD$25 million face value. This is a 0.29 on the dollar of face. I believe without looking it up these are GEMS (Simon Murray) and Bank of Japan investment.
It proposes to buy-back the 284 Million public shares at HKD 0.58/share. This is USD $ 21.4 million to buy out the public float. The option cost is negligible (less than 150,000 USD).
In short, NewCo is taking Greenheart private for a $28.7M outlay. **However**, remember Greenheart secured a $30M capital loan by the Bank of New Zealand on Dec. 20th. This means on a cash basis the take-over is leveraged 100% to the bank. Greenheart funded its own takeover with a BNZ bank loan.
I believe the transaction will close before the annual reporting date, so no further audited accounts of this venture will appear.