haven't seen all the information but Intrepid $1:10 today...

haven't seen all the information but Intrepid $1:10 today however set to pay a capital distribution of $0.75 to existing shareholders, would bring share price to &0.35 effectively. 3x 17c for AIC $0.41. although they say 'value' after capital distribution is $0.74 the market isn't reflecting this in the price now?

Am I doing something wrong here? Black and white our shares effectively drop (further) to 15c if we accept ??