at 23.7 cents per share , this stock aint gonna attract a PE...

at 23.7 cents per share , this stock aint gonna attract a PE more than 5-6 in these economic times

thus at PE 5, 0.237 EPS * PE 5 = $1.19

Even blue chips only trade nowadays ay 8-10

TSE will be lucky to trade at PE 5-7 in this environment

So $1.20 is the value at PE 5

$1.42 at PE 6

$1.66 at PE 7

And this EPS figure assumes that only HALF the retail offer is taken up; if the full amt is taken up, the EPS falls slighly and the PEs go up slightly

Huntleys obviously have some stock in TSE, otherwise they made an error???