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Biotech / Medical : Trinity Biotech (TRIBY)
TRIB 0.690-2.8%Jan 16 9:30 AM EST

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To: AgAuUSA who wrote (8394)3/5/1998 5:33:00 PM
From: Steve Stuart  Read Replies (1) of 14328
 
Greg,

Your calculations differ from mine:

$6M book value / 19.6M shares = $.31 book value per share

600k SLF shares x $9 / 19.6M TRIBY shares = $.28 per share SLF valuation

This leaves a full $1.35 of TRIBY's share price as an unsecured premium. Earnings of $.10 next year would represent a 7.5% return on this premium -- not far from a typical value.

-Steve Stuart
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