why assume 10% div ? , page-7

Correct me if I'm wrong, but the potential dividend we speak of is of course related to distributable profit - NOT the current SP, which is a function of a whole bag of other influences, including uncertainty about the future of the company.

If/when a dividend is announced, the SP should reflect a reasonable dividend return on investing in the company, this is where the 10% comes in.

i.e. a 10% return on capital is a rough rule of thumb for what will be attractive to investors - and set the share price.

Of course - on or after this thursday the most info we'll get is an announcement of dividend POLICY, which will give some confidence, but there will still be uncertainty about the size of dividend, and the SP will be discounted accordingly.