M1 @ $1.30

Buy @ $1.30. Q’d at $1.33 but done at $1.30 as big seller dumped 78 lots during matching. Seller ’78’ – ML.

Based on FY07 results, PE 7.03 and Yield 11.846%. My est. based on FY08 results is PE 7.88 and Yield 10.154%. Assumption is that Q408 EPS will be as bad as Q308 (3.8ct). This will give a 2H08 DPS of 7ct. Note that if results are worse in Q4, then DPS will also be lower. 😀

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