great news for holders well done, page-32

djzab,

The announcement relates to selling a majority state in Stella for Cash....nothing about selling 100% of Stella. So I think saying they will be 'left with nothing' is a little misleading. Sure it is the most profitable arm however pre Stella MFS was still a very strong proposition, and it will be again once they clear the short term debt.

The key for me is the announcement in relation to the 2008 guidance. No doubt it will be less and much of this will be influenced by the amount of Stella that is sold and the price so we won't know for a while yet.

At $0.99 it has a PE of 1.87 and an Asset Backing of $3.09 per share. The only problem is the short term debt which will be resolved by the partial sale.

As I have said earlier a short term PE of 5 (assuming EPS drops to 40c) takes us to $2, and once the storm has passed then a PE of 10 is a reasonable LT target.

All this talk of they will never trade again etc etc, what a load of crap. This is a short term debt problem caused by a significant drop in market cap on the back of a bad plan from a CEO who has fallen on his sword.