From the half-yearly report TSN has Net Tangible Assets per security of 0.45c.
Having read the report I can see this is made up of a combination of cash and an ascribed value to the Subsidiary TSI Plc and Indian Company.
Is this a real value or just an accounting value that's been ascribed?
If it's a real market value then what's the catch here or are we buying a company at a discount to its asset value?
Net Assets - 0.45cents
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