Ann: Update on JB Financial transaction, page-21

In HML's half year report, the value of unlisted investments was $43m.

HML holds approximately 5.3m shares in JBFG.

How much did HML pay for these 5.3m shares? $6.3m, using money given to HML by shareholders. This is in the 2017 annual report of HML.

How much did HML say these shares in JBFG were worth? $29m-odd (2017 annual report again).

So, according to HML's most recent disclosures, shares in JBFG account for approximately two-thirds of the value of its unlisted investments.

JBFG is paying nearly $80m for HML's unlisted investments.

Does this mean JBFG is agreeing to pay nearly $55m to buy back shares in itself which it issued for $6m? Please tell me if I missed something.