VPG 0.00% $1.79 vodafone group plc.

could vpg tank..?, page-78

  1. 2,739 Posts.
    lightbulb Created with Sketch. 2
    You are way off whits

    Let's use figures

    we are basically left with the Asia Pacific Assets plus the Europe Management rights - post DUKE.

    We all agree with that?

    The Asia Pacific Assets were valued at $788.6 mill as of 31 Dec 2008 - see the annual report.

    let's write them down to $630 mill ..roughly a savage 20% plus write down.

    Then let's add the management rights to Europe valued at $210 mill ..(we also have management rights to Duke as a bonus which we will ignore)... so let's keep it at $210 mill.

    So I estimate the NTA will become $840 mill post the write down ... $630 + $210 mill

    I think the market cap is currently $140 mill ... or a sixth of that !
 
watchlist Created with Sketch. Add VPG (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.