7.4 x 1.4 =10.36, page-52

Management and the market still can't agree on the TAS value. I'm still trading swaps using my valuations. I can only hope that when I'm proved wrong that I am on the TAS side of my majority holdings.
In my trades between EDE, EDEO and TAS I have gone for EDEO in the main. That is the one that gives the best leverage. I've just had an order for EDEO partly filled at 5.2c.
I place a relative value on EDEO at (EDE sp - 3c + 10%). The 10% is leverage value while the conversion date is so far into the future. I value TAS as 1 TAS X1.4 = 1 EDE and 1 TAS - 10%.
Using this as a basis of my buying today I have placed orders to buy EDEO. My sells are well up the line for EDE and TAS ready for a spike in their SP.