If we assume that growth in earnings continues at 20% for Q2 and direct listing follows based on these numbers, then the indicative earnings for 2024 would be 28mil or approx 0.25euro per share. At a PE of 30 this would give a market valuation of 7.5euro or 12.34AUD.
This would put shareholders comfortably ahead of the market price on 02/10/2019 and would be a happy ending to a remarkable story.
Cheers
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