Bingo long term outlook, page-55

$90m? please substantiate your claim.

Bin alone has an EBITDA of $92-$96m for this year. DADI's EBITDA is around $60m. Take an very conservative approach:

• $140m combined
• PE of 10. I think this is the PE the market factored in when Bin announced the revised earnings in Feb before the completion of DADI
• 5% dividend
• doesn't take into account the cost synergies of $15m to be realised over the 2y
• doesn't take into the price increase from July

So with these, MC is around $1.33b or $2 per share.

I'm not ramping here and just like to point out facts. Happy to be corrected.