Ann: Full Year Results Announcement and Business Update, page-32

Be careful not to be misled by some posters that persist with mistakenly confusing equity value with market value.

Equity value is otherwise known as Book Value or Net Assets. The often quoted 0.30c to $1.10 is referring to equity value and that would be approx. correct. Net assets are $63m and shares on issue are 69m, therefore equity value per share is 0.92c. However, how many stocks are bought and sold purely on book value? It is not uncommon to have a market value to book value of 3 and where there is a realistic prospect of improving net assets considerably then pay up 5 or 6 before settling down to 2 to 3 book value range.

So book value * 3 = 2.76
book value * 4 = 3.68

Those figures are remarkably close to what is has been trading at don't you think!

Be wary of the unwise.