AP Land, unfair but reasonable?

Earlier in the Independent Advice Circular dated 8 October 2011, one of the considerations used as basis and justification for the Disposal was Price-to-book ratio (PBR) of Comparable Companies of AP LAND

Refer to page 22 of the circular, the Independent Adviser used the closing prices of comparable companies as at the Latest Practicable Date (LPD) of 28…