RE: Is there the Remainco payback still to come?20 Dec 2024 15:18
That’s right OSG, this should add 13% to SP on the point of stock reduction.
Also,check out how the asset value of Remainco compares with the pre split asset value. Approx 25% less which explains the drop.
I would also point out that balance sheet for Remainco shows ‘Admin’ at £415m!!! Now if I were an interested party with existing infrastructure, I reckon I could slash that by at least 50% and start spewing out £250m+ EBITDA.
So what does that take out value look like? Got to be £1.50 minimum I would propose.