Trying to work out what TWR is worth...
1) Sold divisions
Shares on issue after 13:10 reduction - 207m
Sale of Life - 189m - 70cps
Sale of Invest - 79m - 38cps
2) General insurance business
This is all that's left and I expect they'll sell it too.
Made 12.9m last year
Est if sold - 130m = 63cps
3) Cash + whatever else is left
Anyone's guess.
Guesses anyone?
GPG seem to think TWR is undervalued and they ought to know.
Net asset backing given as $2.04 after health was sold - includes intangible assets - but maybe TWR will realise these during the sales.
I reckon the final return of cash will be more than $2.04.