Don't be too stressed. MOF could conceivably report a "profit on historical cost of building" and a "discount to 31/12/2008 valuation of 10-15%" (if the offer prices hold true).
This discount to BV is well within the range of discounts we've seen MOF and others sell assets for recently.
I would actually see it as a good thing to be able to get such a large single asset >$400 mill sold at such a modest discount to BV.
SP as a percentage of NTA is 31.7%; thus if you were to apply even a 15% reduction to all of MOF's NTA you'd still have a safety margin:
ie SP = 20c. NTA = 63c less 15% = 53.5c ---> SP/Disc NTA = 37.3%.
With gearing of only 36% no worries mate still heaps of safety...
Cheers John
MOF Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
