Ann: Q1 FY23 Quarterly Report, page-41

The $9 offer for Origin is a forward PE of 16 on consensus 24 earnings. If you put the same measure on COE puts at 32 cents. I know big difference in company and the difference with a small miss for us makes a big difference to the bottom line and therefore the equation changes significantly but it goes the other way too, a small out performance, beat of expectations (we're due a break or two) and we will run hard, probably well past a rational valuation. If we hit high end forecast would put SP at 48 cents. Patients are required here....