Ann: Business Update, page-25

It is good value in my view on a DCF basis. In the context of rapid expansion and earnings growth, valuing such a business on multiples doesn't really make sense. And particularly using backward looking multiples based on last year's (CY19) sales. This announcement does not change my valuation and gives some more detail around the US which is helpful. I hope management will do a better job on the corporate side of things going forward.