Thinksmart Ltd Share Price (TSL)

I note the 'small print' in the accounts i.e.

"This valuation ... including a discount of 20% to be applied for minority holding and the lack of marketability of Clearpay as a privately owned company...

Reducing the discount for lack of marketability to 10% would increase the fair value by £6.7m; increasing the discount for lack of marketability to 30% would reduce the fair value by £6.7m.

...the Group has further discounted the valuation by 35% to determine the accounting fair value of its retained shareholding in Clearpay to be £53.733m at 30 June 2020."

For a business which is rapidly growing (leading to the idea from Simon Thompson that it is sensible for AfterPay to acquire ThinkSmart’s minority interest early) do not the discounts appear somewhat excessive? Or am I looking at this with rose tinted glasses?

(am aware of the "up to 3.5%" share capital of Clearpay being applied to the ESOP)

Tried for half hour this morning to sell a few only had one trade at 42ish offered on HL although price was 47 so did not bother glad i didn’t now think we needed a day with better sentiment as people say market stinks

IC write up has just come out - summary = "Trading 40 per cent below my spot sum-of-the-parts valuation of 74p, ThinkSmart shares continue to rate a buy."

They will know next week when ST sings their praises. GLA

1 hour to drop 16%. 50p to 42p. With a NAV like that would expect to see people buying up towards 55p ....
If they knew about it