4 Directors assessment of Explaurum's value
4.6 Other factors
(d) Explaurum share price
You state "So in other words even though EXU is a listed share we didn't like what Mr Market valued it at so we won't use that figure."
Use that figure for what? They aren't using it for anything. They aren't using an alternate figure for anything. What are you talking about?
The directors are stating that they took into account the share price pre-offer as part of an assessment of value. It was their opinion that EXU was undervalued at that time. That is all.
Now lets look at your other quote, under the heading "Directors assessment of value of Ramelius Offer". This is an assessment of the value of the offer to EXU holders, and has been conducted on the basis that EXU holders sold their RMS shares on market, were they to accept the offer. RMS has been in a solid down trend for the last 5 months. I'd argue using the 30 day average is fair but generous as the RMS share price has tumbled more than 10% since the offer was announced, and as at the time of posting is worth less than 11c to EXU holders.
Not sure what point you were trying to make but one thing is glaringly obvious, RMS offer getting worse by the day.
EXU Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
