use “shortcuts” in their investment decisions. • Brown and Yang (2016) analyze horse race betting data and find greater propensity to quote odds at round numbers, which they suggest is reflective of
EBITDA per ton of $141 vs $87 in 1Q LTM 2017 The Asian business is on the path to recovery with 1Q 2018 LTM Core EBITDA per ton of $75 vs $71 in 1Q LTM 2017, current earnings not yet reflective of the
construct the Project within 2 years from the leasehold registration date or any agreeable period including rationale extension. Upon the occurrence of an event causing termination except defaulted by the
quarter production and sale volume should not be a reflective to volume for the remaining period in 2019. The Company has already embarked on a maintenance programme last year, which includes, improved
created by on-going restructuring as customers looked for higher con- tracted volumes due to risk that the restructuring would result in planned capacity not coming on line. This is reflective of the
regions on LTM basis; EMEA 3Q18 EBITDA per ton decreased YoY, negatively impacted due to startup/ramp-up of Egypt PET and Portugal PTA. Core ROCE 14%, up from 12.4% in 3Q17 LTM is not fully reflective of
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value of the asset and not the current price of the asset, thereby rendering the asset’s book value possibly not being reflective of a fair price of the asset. The Adjusted Book Value Approach, on the