currently sitting slightly above pWC's 'low valuation' of A$238m...

currently sitting slightly above pWC's 'low valuation' of A$238m and significantly below A$325m. I wonder if 'fair and reasonable' is true.

If we accept A$325m is fair value hen the other side (consideration component ) of the equation might need to be altered. On this basis I see about 3 variables in play ie

conversion rate * UUUU price * AUD/USD + special dividend

0.026 * US$4.75 * 1/0.65 + 0.065 = 0.255

For my money the logical one is the conversion rate. The FX rate and the special dividend have their caps IMO so not much left to play with ...

Only time will tell.

Have a great day