When I examined the report the Age quoted it says that, on an ongoing basis, the value of the headco (i.e. remote from the claims of the banking syndicate) is $99.9m to 114.6m. How much of this unit holders get is then a function of the seniority of debt from the trust to the company as compared with the seniority of other claims against the company.
AEJ Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
