I have more recently become a shareholder and the first 20 posts...

I have more recently become a shareholder and the first 20 posts on the subject did not seem to take a lot into account......... so below are my thoughts on how the figures might pan out - very approximately..........    
$m.
Operating profit EBITA 65
Depreciation & interest   -28
Tax nil   ??
NPAT (before amortisations) 37___ PE = 385/37 = 10.4
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Operating profit EBITA 65
Less intergration costs -30
Marine write off    -75
Amortisation (skilled)   -10
Depreciation and interest -28
Statutary profit /loss -78   Loss $78m

On equity – a blind guess at the current market value of 385m. (i don’t know what net assets skilled bring with them) - increasing bk/price from 0.44 to 1.0
On this assumption with debt at 290m/385    debt/ equity = 75%

I think that this is not a negative as PRG’s business has a history of very strong cash flow and of being able to repay large debt over a very short period.......also smart to take advantage of what looks like being a very long period of low interest rates

Due to the higher debt the annualised dvd. Will be a bit less than previous......

i’m guessing there might be a temporary big shock to the SP when the statutary profit / loss is announced
Cheers all ............GK.