As an aside buybacks should be excluded from internal...

As an aside buybacks should be excluded from internal performance bonus calculations to prevent it being a tool to boost ones pay.

If all the entities were truly independent then there is a possibility of a outside auditor coming up with a suitable risk and discount value if the unlisted assets were in a stable easy to value market / industry but considering they are all interconnected they can't possibly assume that a captain wearing different hats can truly execute all transactions for the benefit of separate entities. There is a massive conflict and until there is a separation of that fact I can't believe any reasonable valuation can happen.

Regardless of end result they are a bunch of fockers to put shareholders through this and not to have resolved it earlier and with 11 months of maneuvering and butt covering all behind closed doors all shareholders should have access to the full "independent" reports / valuations so we can see the structures and valuation methods ( discounts) to see if assumptions are in line with risk level. Yeah and keep it in halt for a couple of days after release not dump it in announcement at 10.09am

Out of the circle of trust.