The RM Capital valuation last year was a paid report by AVD. That is why it didn't carry much credibility.
The current valuation by W D Von Gonten & Co was commissioned by AVD and not Sterling Bank. The announcement stated that the Bank uses them for valuations (very clever by AVD - it is easy to assume that the Bank ordered the valuation). Therefore based on Lassiters argument you can only take this valuation with a grain of salt as well.
No news on the rights issue - its probably hard to get an auditor to sign off on a prospectus.
independant valuation of avd, page-9
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