RE:RE:Rough calculation of stock market's excess discount...55cExcess cash - Wilan needs a certain amount of cash to litigate - similar to a company needing inventory or working capital to operate/
Shares OS - I took off the bank site, which is not always up to date, but if use 113m, there are options and Share rights plans that mean effective share dilution, so 116m may be a bit low.
Discount of 25% - often companies are acquired for a 30 to 33% premium to stack market (but can vary greatly). The recent price paid for ITS reflects what market forces produce (unless QTRH over paid for it), so the 150m or my bump to 175m should represent full value, not stock market value. Thus need to reduce by 25% (ie 100 - 25 = 75 plus 33% full value premium bring you back to 100).