Nente Co

Hi,for PYQ june 2012 Q1

1)the cash offer for a percentage gain of value to Mije Shareholders(appendix 2):

Can I first calculate the combined company earning and using P/E ratio of 15 to calculate the value of the combined company and after that minus the current equity value of Mije Co and Nente Co to get synergy benefits of $4579000( which that is the difference from examiner answer $4520000) and minus the synergy benefits given to Nente Co SH($0.05 * 2400000 shares) and the balance divided with Mije Co number of shares(10000000 shares)

Will this method still valid?

2) The value of the option for the delay should be $603,692- $405,000?(appendix 3)

Thank you.