Ann: Investors Presentation - Global Growth-UCM.AX, page-2

Can anyone shed any light on this particular line in the presentation?

Shareholder value, if targets achieved - $1.40 per share. ($13m sales, $6m costs, profit $7m, PE x 20, 108m shares)

Whilst they have referenced broker valuations in the past this little gem on page 24 is their own projection. So shareholder value, meaning share price. Secondly, where does the $13m of sales come from? In what year (their slides predict $20m sales by 2020)? Thirdly, why assume a PE of 20 over asx 200 benchmark of 15?

These little presentations seem to me like they are screaming at the market THIS IS UNDERVALUED. PE ratios will only tick up on expectations of future earnings so this will be interesting to watch.