valuation anomaly, page-3

at 3-10-2008=
wan 22.3%= 413mill
eng 58.36%= 6.41mill
grd 12.22%= 16.985 mill
cmj 4.8% = 72.63mill
smg 48% = unlisted company jointly owned with kkr
various other assets +
cash approx=1200mill

nta $8.37 making no allowance for smg holding and its a big one allowing 210mill shares

kerry stokes owns 48% of sev

it is hard to imagine how any investment vehichle with minimal
debt could make a wrong turn,when they say this current market really lacks confidence in sev case it is a gross understatement,it not like mr stokes is in desperate need having his own private companys as well.
hard to understand fidays close but div ex-date is 15-10-2008,might well be a grim two weeks coming for the sp.