Roaminoz..Actually, I think it may be to correct some dodgy numbers done by HC members...in particular myself. In my calc I used a non-current EDE holding and a wildly inflated number of EDEO held by TAS (beer related translation error). A reworking of my method brings a figure of 1.334 x EDE price as value of EDE holding per TAS share vs my 1.366. Apols.
However I am happy to go with the Solomon's far more attractive benchmark ratio of 1.5 (TAS fair value for EDE holding when EDE 10cents & EDEO 6.7c)...evidently factors in the in-the-money status of EDEO and the correct holdings of EDE by TAS.
7.4 x 1.4 =10.36, page-38
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