Iresse's Asset backing per share already has the 3.8 bill intangibles taken off. Asset backing including the intangibles would be $15.219b/766.5 = 19.86/share. The 5-6 Bill write off includes that intangible (goodwill).
So total write off is:
3.689b for Goodwill
2.2B for exisiting projects
Total - $5.88b
Defferred Tax Payable will drop because potential profits on sale of assets is less. This could drop up to 500Mill.
Profit for the year will add 500mill to Balance sheet.
Therefore NTA will be:
15.219b
minus 5.88
Plus 1.0b
equals 10.4b Say $10bill
10b/766.5 = 13.04/share
Does that make sense?
Iresse's Asset backing per share already has the 3.8 bill...
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