to exhibit DCF Analysis in attached excel file. Results shown in exhibit DCF Analysis‚ with an NPV of 142.2166 million and 9.29 million outstanding shares‚ we compute the share price to be $15.3087. Thus‚ we believe the stock price of Tottenham Hotspurs is undervalued relative to its current stock price ($13.80). Question 2: Sorry‚ but I do not know how to derive and analyze the share price of different comparable
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Tottenham Hotspur Case Summary Tottenham Hotspur (Spurs) is a English Premier League (EPL‚ Premiership) soccer club based in London‚ UK. Founded in 1882‚ it is one of the oldest teams in the premiership. Since 1981‚ the team’s main shareholder has been ENIC International Ltd‚ an investment company owned by Joseph Lewis. In fact‚ Tottenham Hotspurs chairman‚ Daniel Levy‚ is a partner at ENIC Ltd. By June 2007‚ ENIC had acquired 82% of the club’s shares‚ with no other shareholder owning more than
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English II Spring 2013 Character Analysis: Hotspur Hotspur is seen as a one-dimensional character‚ a bloodthirsty warmonger. His Loyalty to his brother-in-law and the Percy namesake outweighs his loyalty he should have for his King (commander and Chief). This will be his ultimate downfall such as a man who would attempt a coup. He is a formidable warrior such as Sgt York & John F. Kennedy. These young warriors gained respect and notoriety because of courage under
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Tottenham Hotspur plc 1. First‚ calculate FCF. As written in the case‚ both depreciation and CAPEX grows 7% annually and I assumed change in NWC is consistently 0. Given discount rate is 10.25%. I put 1% perpetual growth on CF projection after 2020. The NPV of CF is 79.13 (in M GBP) as below. Since EV is 79.93 and net debt (total debt – cash and equivalents) is 16.79‚ therefore we can say that E is 63.14. On the other hand‚ as its current stock price of £13.80‚ the market capitalization
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important aspects of his life. Many characters see Hotspur’s role as a bold fighter and leader. His character is very one sided and shallow‚ and his stubborn nature and short temper send him on the path to destruction in William Shakespeare’s Henry IV. Hotspur is an proficient leader and a daring warrior‚ almost fit to be a prince. He is part of the Percy family of the North‚ which helped give Henry IV the rise to the thrown. King Henry respected Hotspur’s bravery‚ valor‚ honor‚ and determination so much
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Experiment 6 Experiment 6 Some Properties of Charge Introduction: Electrical phenomena were studied extensively during the eighteenth century by scientists and amateurs alike including Benjamin Franklin. Among Franklin’s achievements were contributions to the understanding of electrical behavior beyond his famous (and dangerous) work with lightning. During this time‚ there was a certain social prestige attached to anyone who undertook such studies‚ and much of what passed for
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HONEST MONEY The Biblical Blueprint for Money and Banking Gary North www.garynorth.com copyright‚ Gary North‚ 1986‚ 2005 If you want more information on biblical economics‚ visit www.garynorth.com. See the section‚ Capitalism and the Bible. There are over a dozen books offered for free. If you want detailed information on successful financial planning‚ it is available at www.garynorth.com. Table of Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Transformation of Abraham Lincoln. New York: Vintage Knopf.‚ 1999. Print. Abraham Lincoln was the 16th President of the United States of America‚ serving from 1860 to 1865. From humble upbringings to becoming the most powerful man in America‚ "Honest Abe" is known today as a great and influential person who is often idolized in American politics. Lincoln is almost always voted the best or near-best President among historians (Wilson‚ 1). He helped mend the rift between the Union and the Confederacy
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HONEST TEA: The offering (Exhibit 20-12) shows the current structure of shareholders ("pre-fundraising") as well as the structure after the issuance of additional share-warrant packages to third round investors ("postfundraising") as indicated in the offering. NOTE: the offering indicates that warrants can be called and converted in case of a liquidity event (e.g.‚ trade sale‚ IPO or liquidation) if in-the-money. Those out-of-the-money become worthless. "Callable" means that the company/startup can
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tells his struggle to find honorable work as a black man in society because of his background. He ended up lying on his application because he was afraid of what people might think. Although there was discrimination and disrespect not being completely honest with people may come back to haunt you later. A 58 year-old man who hadn’t worked in 37 years would have a hard time finding a job as it is the fact that Socrates was an African American didn’t make anything easier. Socrates assumed places of business
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