According to Lonergan Edwards (Independent Expert) Pre Tax NTA is $1.15 and Post Tax NTA $1.14:
According to ASX announcement Net Tangible Asset Backing was Pre Tax $1.19 and Post Tax $1.18 before providing for final and special dividends.
It will be interesting to see the October NTA figures post the dividend payments.
The Independent Report has determined a high value for URB shares at $1.11:
Lonergan Edwards acknowledge that this may need to be updated:
As I read it there is nothing in this deal for shareholders except higher management fees.
