p/e=8 only, page-7

Thanks for that Klogg.

It will probably end up somewhere between the worse case and the current situation. We probably just need to wait for Mr Market to overshoots, as HE always does.

One thing I am having trouble with is that the lower earnings base will result in pretty abysmal ROC and ROE figures. Do you see any way in which management might be able to lift the ROC and ROE figures, assuming worse case scenario?