Just having a look at their 2011 results release. It states that...

Just having a look at their 2011 results release. It states that they earnt $15m contribution from financial services admin and $24m from financial services personal loans. I think the admin is the payday lending IT platform (loans made by stores up to $1000), and possibly the personal loans are for the Safrock unsecured and secured lending business. The only indicators I can find on the average loan size is that, at half year release, they advised that the average loan size of Safrock loans processed online was $1371 per loan. They also mention that the personal loan book is at some $52m with some 51000 borrowers, ie average loan balance (not initial loan amount) of just over $1000. Thus it appears that the vast majority of business will be for loans less than $2001 and therefore caught by legislation. One wonders if they will seek to make $2000 the minimum loan amount, with an initial payment of say $1000, before you leave the store!!

The NTA is 22.7 cents per share, cum 1.75 cent divi which goes ex on 10 September. 2012 earnings estimates circa 10 cents per share ( was circa 8 cents for 2011). Thus shares IMHO should have base value circa 30 cents (not ascribing any value beyond FY2012, and assuming that company does not need to be wound up / have any net wind up costs).