Sorry Petersons.
I agree its worth something. It looks like the offer on the table is joanna's shares. I don't know what % of the company she owns, but from the fact Merchants are happy with her taking 1PG and removing her shares (ie, a buy back of sorts), you can pretty quickly work out what Merchants would take for 1PG.
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- "Respectful winding down" 1-Page out, shell to backdoor again - AFR article
"Respectful winding down" 1-Page out, shell to backdoor again - AFR article, page-11
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Currently unlisted public company.