Ann: Race In-person Investor Briefing Invitation Perth, page-33

I am replying using my personal account as this is my personal view. No analysts in Australia will put out a valuation vastly higher than the current SP. For those of you invested in CU6 you would have seen the same happen with Wilson coverage where they knew the valuation of CU6 was massively above the depressed SP caused by the GenesisCare liquidation, but since they weren’t willing to stick their neck out and tell us the truth, they ignored most of what CU6 was doing to get a valuation that matched the SP. They then had to unwind this hacked model as the SP rose once the GenesisCare shares ran out.

Chris knows if he does a real valuation on CPACS that the valuation of RAC will be through the roof - just like Triangle found out, once he starts trying to value CPACS he will ended up with a ludicrous number that he can’t publish. Try taking his model and plugging in the Triangle data and see what you end up with.

The interesting question is why is the market not seeing what anyone who has done their own analysis here is seeing? Is there a parallel between what happened at CU6 and what is happening at RAC? If so then the outcome might be similar when the shares being liquidated run out.