Well looks like they have a $15m capital gain to account for next financial year, so if they pay 30% tax that is about $10.5 extra on the balance sheet. So underlying net assets are about 71.5 cps, unless they have some other properties that are severely undervalued in the accounts (currently valued at 16m for land and buildings after subtracting the 2.9 as far as I can tell), assuming the lease assets roughly equals lease liabilities.
See if they can make progress on their plan - otherwise flog it all off and give us our 50cps or whatever is left over at that time, I say.
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Well looks like they have a $15m capital gain to account for...
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