Thanks groins. I also found this "EV is calculated by adding a...

Thanks groins. I also found this "EV is calculated by adding a company's market capitalization to its total debt and then subtracting its cash and cash equivalents. This provides a more accurate picture of a company's true worth than market capitalization alone, which only takes into account the value of a company's outstanding shares."

However, this presumes that market capitalisation is a correct measure of the company's worth. A very big ask, IMO. (As in, the market is always right). I can't see much point in it. In LGP's case the NTA is way above the SP.