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$1.42 platinum capital limited

If it gets converted they will see another big round of...

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cutty

3,351 Posts.

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19/05/24

19:29

Post #: 73902378
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Originally posted by nicleeson: ↑

yes some good points there it could be platinum playing games as you suggest.

Having said that in this announcement they went the next step with the formal strategic review teasing shareholders of perhaps a conversion to open ended. With such a liquid portfolio this is a no brainer solution. If platinum undertake such a review to conclude a conversion to open ended is NOT going to happen it would be a disaster for whatever is left with their brand. This LIC is quite small in relation to all of the AUMs at Platinum.

I don't necessarily believe they care at all about the small shareholder. However from a business sense it probably makes sense to convert to open ended, like the conclusion Magellan reached. If they hang onto this LIC it is just a nuisance, won't bring in major fee revenue for them, some clients may also leave the open ended product anyway to capture the likely discount contraction here.

There is a risk you are correct and it is smoke and mirrors to keep the status quo, but the likelihood I think is it gets converted to open ended.

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If it gets converted they will see another big round of redemptions.

Platinum is terminal.

PMC Price at posting: $1.40 Sentiment: None Disclosure: Held
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(20min delay)
Last $1.42		Change -0.005(0.35%)		Mkt cap ! $419.5M

Open	High	Low	Value	Volume
$1.43	$1.43	$1.42	$196.2K	137.8K

Buyers (Bids)

No.	Vol.	Price($)
5	117288	$1.42

Sellers (Offers)

Price($)	Vol.	No.
$1.43	54394	1

View Market Depth

No.	Vol.	Price($)
5	117288	1.420
1	87774	1.415
3	29522	1.410
1	714	1.400
1	5000	1.390

Price($)	Vol.	No.
1.425	54394	1
1.430	159383	5
1.435	15000	1
1.440	45370	2
1.445	30072	2

Last trade - 16.10pm 10/06/2024 (20 minute delay)


Last $1.42			Change -0.005 ( 0.35 %)
Open	High		Low	Volume
$1.42	$1.42		$1.42	65885
Last updated 15.38pm 10/06/2024 ?

PMC (ASX) Chart