Went and read the annual report and really can't see how Under...

Went and read the annual report and really can't see how Under the radar can say it is at a discount to NTA - as you say hefty amount of goodwill, which has to be taken out. Maybe I should email them and ask how they derive it - I suspect just sloppiness on their part.

While the auditors raise the goodwill as a key audit matter and hedge it about with typical audit stuff about potential uncertainty, they are not recommending any current writedown and in fact say they examined all the key calculations and were OK with them. The market has definitely written it down and sensible to do so, until proven otherwise.

I have 119,000 shares in PRG, so not a small holding, although not losing any sleep over it