cut'em some slack

Everyone seems to forget that MEO bought an extra 5% of Artemis for US$7m, post-PBR deal.

At this dicounted price, MEO's 20% share must be worth $28m. MEO are placing shares to sophistiCats valuing MEO's interest in Artemis at about 5x that price.

MEO shareholders are harvesting the upside in Artemis valuation as a result of this clever structuring. If anything, I hope they spend another US$14m to buy the remaining 10% held by MOG, or there I say it, throw US$20m to CUE and take them out altogether!