valuation

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    Valuation

    Ordinary Shares 240m
    ANTG 180m (Fully diluted)
    Total Shares 420m
    Price $0.30
    Mkt Cap $126m
    Debt $250m
    EV $376m
    EBITDA $100m
    EV/EBITDA 3.8x

    Assume bank work out results in company being re-rated to the current small company multiple of 6.5x EBITDA

    EBITDA $100m
    EV/EBITDA 6.5x
    EV $650m
    Less Debt $250m
    Mkt Value $400m

    Divided by Number of shares (Fully Diluted) 420m

    Share Price could be 95 cents by December


 
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