Executive Summary 2
1. Company Background 2
2. Market and Competitor Analysis 3
3. Delivered Shareholder Value (2004-09) Analysis 5
Economic Value Added (EVA) Method 5
Total Shareholder Return (TSR) Method 5
Dividend Policy Method 8
4. Market Value Variations over past year (2008-2009) 8
5. Current Valuation of Equity 10
a. Net Asset Value (NAV) Method 10
b. Price to Earnings (P/E) Metho.....
