SH
Yes that's the way I worked it out roughly.
But beware the risks are different:
a) via SPP maybe? a potential stag profit. But if the deal/votes all fall through I guess they send back you 15k cheque
b) via BEPPA, maybe? more upside. But if the deal/votes all fall through your BEPPAs could be worth anything between 0.00 and 0.70 and it maybe a long time, if ever that you see your money again.