valuation, page-2

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I am also glad to see another poster on the LHD thread as it can be lonely here sometimes.

Looking at your valuation I think you need to deduct the liabilities from the sale of the assets so I don't think there is any chance that shareholders will see over 20p.

The best valuation would probably be a mixture of the two methods you have used and look at what the assets are worth (which is basically Athena and Thunderball) and then deduct the liabilities to arrive at a net to shareholders. I seem to remember a valuation a while back that would net out to about 12p which I think is the most we can hope for.

Would like to be proved wrong but I think we are looking at bids around 10p for starters even though the directors have said 15p upwards.