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PMC $1.97

expensive premium @ $2.16 share price

  1. Henrik

    635 Posts.

    At current levels PMC seem expensive.
    @ $2.16 the stock is trading @ ~41% above Pre-tax NAV and ~39% above Post-tax NAV.
    Seem a big premium - for what ??
    Any comments please.
    HOMEX - Sydney
    The preliminary unaudited net asset backing as at 31 December 2002 was $1.62 per share (30/11/2002 1.65). The net asset backing calculation takes investments at net market value and is after provision for tax on both realised and unrealised income and gains.
    The share price at 31 December 2002 was $2.15.
    Unaudited additional information:
    31/12 30/11
    2002 2002
    $ $

    Pre-tax NAV 1.5274 1.5764
    Realised tax (0.0025) 0.0031
    Unrealised tax 0.0945 0.0722
    Dividends Payable (0.000) (0.000)
    Post-tax NAV 1.6194 1.6517

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