"materially lower" than 16 cents, page-5

I think under the circumstances th announcement is positive

"APN expects that agreement will be reached to implement the Proposed Sale Program"

Agreement from the lenders is paramount to an orderly sale and intrinsic values being realized

Assuming selling costs of $30-$40 million and staganant valuations a material decrease in net assets of around 50% is expected

The question is if the accounts were presented under the same basis as at june 2010 , would a material decline in net assets occur??