Ann: Resignation of CFO-VOC.AX, page-41

Hey @thunderhead1,

I think you could be right
Last year the Telco Sector averaged roughly (17.35) using my monthly figures
So I'll use a PE of (15.00) for my previous valuation estimates
& last years average of (17.35) also

EPS ($0.39) X (PE of 15.0) = $5.85
EPS ($0.39) X (PE of 17.35) = $6.77

I thing this valuation range will be closer to the mark
Somewhere between ($5.85 and $6.77) for EOFY/17
So at the moment, would be a hold only

The big concern for me is the massive drop in ROE
It doesn't add up

My gut feeling is the CFO may have overestimated the company's equity somehow
They may end up writing it down

Safest thing to do is wait until next years EOFY result