note 29 - interest in subsidiaries
if Novatti sold 9% of IBOA for $3m, that should make the remaining 90% $30m, which is close the the entire market cap of Nov now.
understand that was sold during better times. so even we apply a 50% haircut, that should still leave IBOA to be worth at least $15m.
so doubt the Banking Day article that Nov will be handing back the license for free.
let's hope NOV gets a good price for IBOA, if they are indeed trying to flog it off.
time will tell
Ann: Annual Report to shareholders, page-4
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