Ann: Earnings guidance and key organisational changes, page-33

Hi Indexinvestor
Its due to lack of clarity from my part about how they came up with initial valuation when it floated. If i had a sense that it excluded the leasing fees and i could find out their valuation rational on the other parts of the business then i would be happy to invest as i believe JM is a great RE agent and has the ability to change the fortunes of the company. Question is what is the real value and until i can get a handle on that my sentiment is sell.