SKE
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0.00% $1.64 skilled group limited

So how does one work out the fair value of the combined entity...

  1. Ocker
    10,373 Posts.
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    05/08/15
    09:34
    Post #: 15752024
    So how does one work out the fair value of the combined entity after the "merger"?

    My simplistic attempt is:

    Combined underlying NPAT for the last 12 mths: $84.6mio
    Current PRG shares on issue: 118.9mio
    PRG shares to be issued on basis of .55 x PRG per 1 x SKE: = 129.8mio new PRG shares
    Total of PRG shares on issue after the merger: 248.7mio

    Therefore, based on last years earnings and before any cost/efficiency gains for the merger the e.p.s. would be $0.34cps.

    A conservative pe of 8x - 9x gives a PRG price of $2.72 - $3.06.
    SKE Price at posting: $1.58 Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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