Because the ASX has given us all the information about the investment breakdown we can run the numbers on what a possible NTA could be given a sale of the unlisted assets. Thank you ASX.
Assumptions:
*We will carry the $79.16 million as a tangible asset from the signing of the deal on day 1
* Number of shares on issue are constant
* The sum of cash, foreign currency, derivatives and listed asset values stay constant
* No one exercises options and the buyback doesn't occur yet (no. of shares stay constant).
* Liabilities are rounded to $10mm and provision for tax is $12mm (overestimating here)
NTA before tax ~$2.53
NTA after tax~$2.14
^That is a considerable jump from where we are now. (To a reasonable approximation)
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If the provision for tax remains at $9.5mm then we get:
NTA before tax ~$2.53
NTA after tax~$2.22
HML Price at posting:
$1.99 Sentiment: Hold Disclosure: Held
