RE:RE:RE:RE:Canaccord on Q2/21Chi, Please let the board know of CIBC's assessment.
The theory behind the 10X is that the corporate costs should be deducted from the operating subs' results. That is the correct interpreation in applying the corporate overhead. However, Canaccord gives IRD has a mutiple of 10X and Wilan a multiple of 6X, my point was that they should apply a weighted average. In 2020, a weighted average would be 8X; in 2019: 7.5X.