They PR'ed they expect that the new stock will trade at .25 euro or .33 USD (at todays conversion rate) What they Expect and what is reality is yet to be seen, but yes. Based on that assumption your math is correct.
In reality, the only thing we can really say is, after the splits and divy's you will have 160,000 shares of the new PMCL, and 53,333 shares of the new European distribution company. What that will be worth at that time is what ever you can sell them for :)