Can we see 30c again, page-35

Might be, might not be. The SP of SHJ should not determine the value of SGH.

What if SHJ were overpriced significantly compared to its intrinsic value. In that instance, using your valuation method, SGH would likely be overvalued or valued fairly.

Not disagreeing with your statement about SGH being leading law firm, and 30c may indeed be 'ridiculous' but your argument on why the SP is 'ridiculous' doesn't make sense.