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Ann: Steelpoortdrift PFS delivers superior results, page-130

  1. 2,124 Posts.
    lightbulb Created with Sketch. 45
    EBITA 5777 mil LOM

    Interest .... max 250 mil LOM
    Tax ?
    Amatorize 500 mil full plant value.

    5777- (250+500) = approx 5billion
    therefore tax must equal 5billion - (1.2bill NPV) = 4.8 billion LOM !!
    about 200mil p.a. in tax. over 25 years
    thats right and share holders get 40mill p.a.
    doesnt sound right does it ? anyone?
 
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