refer 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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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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Introduction Tottenham Hotspur Football Club is an English football club that founded in 1882 and located in Tottenham‚ London. Tottenham has been playing in the English Premier League and was one of the oldest teams ever played in the Premiership. Tottenham was the first English football club to achieve the League and FA Cub Double by winning the competitions in the 1960-61 season. Tottenham’s history shows a successful career with the trophies for the past six decades. Tottenham own a home stadium
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Adele Laurie Blue Adkins Better known simply as Adele‚ is an English singer‚ songwriter and musician. Adele Laurie Blue Adkins was born in Tottenham‚ north London‚ England‚ to Penny Adkins‚ an English teenager‚ and Mark Evans‚ a Welshman‚ on 5 May 1988. Evans walked out on Adele when she was two‚ leaving her 20-year-old mother to raise her single-handedly‚ for which Adele has still not forgiven him. She began singing at age four and asserts that she became obsessed with voices. Adele has cited
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Adele Early life: Adele Laurie Blue Adkins was born in Tottenham‚ north London‚ England‚ to Penny Adkins‚ an English teenager‚ and Mark Evans‚ a Welshman‚ on 5 May 1988 Evans walked out when Adele was two‚ leaving her 20-year-old mother to raise her single-handedly‚for which Adele has still not forgiven him.She has a younger half-brother on her father’s side‚ Cameron Evans. She began singing at age four and asserts that she became obsessed with voices. Adele has cited the Spice Girls as a major
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brief history of Amstrad after 1991. In my opinion‚ Alan Sugar ’ building his empire falls into three steps. Firstly‚ Alan Sugar started to enter laptop computer market in 1991. In 1992‚ his Amstrad purchased 29.9% stake of Betacom PLC from Canon Street Investments PLC. A rights issue and subscription‚ increasesed Amstrad ’s shareholding in Betacom to 71.3%. Betacom‚ a UK based domestic telephone supplier provides Amstrad with a foothold in the developing telecommunications market. In 1993‚ Amstrad
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Alan Michael Sugar also known as Sir Alan Sugar is one of the most successful British entrepreneurs‚ he is also a media personality and political advisor. Sugar is ranked 89th in the Sunday times rich list and Sugar now has an estimated fortune of £770m (US$1.14 billion). Sir Alan Sugar was born on 24 March 1947‚ he was brought up in Hackney‚ east London and as a young child he and his family lived in a council flat. His parents are Fay and Nathan and he comes from a Jewish background. He is been
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time to put the brakes on this dramatic escalation in wage at the top.’ It is interesting to note‚ that footballers do not come under the same scrutiny as bankers for their continually increasing wage slips. Back in 2001‚ when Sol Campbell left Tottenham for London rivals Arsenal‚ his one hundred thousand pounds a week contract made him Britain’s first footballer to earn a six-figure weekly sum. Fourteen years later‚ Wayne Rooney’s deal at Manchester United‚ signed last February‚ earns the England
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An Analysis of Symbolism In Kiss of the Spiderwoman And No One Writes to the Colonel Lara Blacklock English AI Colegio Internacional de Caracas “It’s a sin to take the food out of our mouths to give it to a rooster” (Garcia Marquez 31). This essay portrays the different types of symbolism throughout the novels Kiss of the Spiderwoman by Manuel Puig and No One Writes to the Colonel by Gabriel Garcia Marquez. The fighting cock is the dominant symbol in the former‚ representing both
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