NZF Group (NZF and NZF010)

[minimoke]

You have not accounted for the $20m sitting in their finance company book!

I thought I had - isn't that reflected in the value the market puts on the ordinary shares. Their interim report shows total net assets of $12.7m

[Enumerate]

I thought I had - isn't that reflected in the value the market puts on the ordinary shares. Their interim report shows total net assets of $12.7m

From memory ... and away from my notes ...

In the interim they do not equity account for Mike Pero ... they "value" MPM as an intangible asset. I get a clearer view of things from the full year accounts where they present a combined group view. They had $14m in equity (Group+MPM).