From their previous announcements on this topic I estimated the sale proceeds would be in the range of $24-30m (based on carrying value circa $52m and projected impairment $22-28m). Now they have achieved a sale price of $21.5m and say there will be a "further" impairment circa $5m. I guess we have to add that to the previous worst estimate of $28m, bringing the total to around $33m. Correct me if I am wrong.
Do these guys disappoint or do they disappoint?
Ann: Sale of Madman Group of Companies, page-2
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