valad nta?, page-4

Without the rounding i think it worked out at 13.4c pre consolidation so $2.68 post consol, since the 13.4c on the annuals there is the Top Ryde writedown of 21m so my last envelope calcs had NTA at $2.48

The European Assets that Nursery mention are the subject of the buyout are classed as 'intangible' and hence does not form part of the Net Tangible Assets (NTA), until of course they are sold, so NTA after the sale hypothetically would be $2.48 + (the buyout proceeds / 115m shares)

say 50m for Europe asssets NTA is $2.48 + (50m/115m) = $2.91. Some more revals in the half yearlies to factor in as well.