RE: Holding.28 May 2025 15:45
I think the key thing from your estimate is that if they pay 50p special divi, which might not be unreasonable, then on that basis they retain £377m cash which will make the SP quite a bit higher than it is(one would expect). So the overall return to shareholders would be split between the divi and the value of the uplift in the shares as well(if that came to pass).
GLA DYOR