MST valuation of RAC, page-42

How do you know they read HC?

I'm not sure why everyone is so upset with a valuation showing RAC is currently undervalued. I personally think everyone has put too much weight into Wombats values (which are great) and are suffering anchoring. My opinion to those people would be too look into the fair comparison companies in both blockbuster transactions and current companies.

I personally think it makes sense not including a value for Pillar 1. Firstly we don't even know if it works. Including it would be like giving lime juice a $100b value because we know it kills covid19 in petri dish (said in jest). Secondly, if it does work we know its in multi billions so there's no real need to include it when MC is only $200m-$400m.

What doesn't make sense to me is why pay for this report prior to letting them (or us) know the actual trial plans. Knowing that information would allow a better more accurate valuation, so why not wait the few weeks before paying someone for a valuation..?

Do you think their intention was to get the share price up to a more fair value before the next announcement ($4.88 is at least closer then currently)? If so, then why?

IMO, DYOR, etc