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Exciting news this morning re. the offer for WGP and subsidiaries. $20m is equivalent to c.71p per share. The earn out is worth another 35p. And that's excluding that value of THAL's stake in LSR, which is worth another 33.5p at current market prices. Very crudely that raises the SOTP to c. 140p. And that's before taking into account THAL's residual stake in ARL post deal. Plus the 11.5p of cash on balance sheet. Of course nothing is certain until the ink is dry. But it if does go ahead then there is substantial incremental value here. Nice to see the share pop at time of writing of writing above 80p. But there is a lot more to come if this completes...
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