Ownership at Neal is it A) 44% B) 27.5% C) 30% D) 40% just trying to get an idea
Here's the facts, page 32 of last quarter . Enbridge has contributed in the beginning a
total of $18,924,000 for 20% and US at $13,492,000 the Company and Enbridge have made
additional capital contributions of at $462,616 and+$13,877,000;(this includes the 5 million for additional 7.5% ownership not to exceed 27.5% ownership) ((but The impact of the additional
contributions to the profit and loss allocation percentages could increase Enbridge’s ownership to 44%))
ok here's the inputs I found, I'm not sure if they are taking into account interest on the loans and I'm not sure how they are doing the profit loss . A loan at - 96.8 million, ( the grant 32.749million pg-16), Enbridge total contributions 32.8 million, US total contributions of 13.9 million a (20 million BETC worth 7.36million cash pg 38) the cost of the project was suppose to be $143.6 million. I think I'm missing a few things I'm just trying to break this all down. I would like to think that Enbridge owns 31.17% .
Nice summary job wrenn, as with others, believe it is in the low 30s range. It was reported larger at one time but they did not need as much money as initially thought, so the percentage was reduced. We should get info on the final percentage. They were waiting for the completion of the plant, and the closing of the Fed grant. The lower the better is fine with me, as I am sure most investors would agree.
Very good summary Wren.
I guess the facts will be known in the next few weeks.
Just a thought but they may sacrifice some % ownership to pump cash into SE2 or Guatemala?. Which in itself is not a bad idea to save future dilution..