Ann: Results of Annual General Meeting 2017, page-8

Agree with that strategy. I'll retain until near NTA, then move on to Acorn which is at a good discount. Although Wilson is a better manager higher typical returns. All depends on timing and discount but I want to continue my side microcap play. And if I wanted to get NAOS exposure I would have had it already, certainly don't want to try a coin toss into this new idea portfolio

So this one done and dusted. $200m sucked out of the microcap sector. Sad for Australian industry really. NAOS bailed themselves out. Given board seats by a derelict CTN board who only had 1 job to do. Current and previous Chairman should be ashamed of themselves but welcome to these incestuous LICs and the $ from sitting on boards.

Investors will be better off as NAOS said (except for the performance fee they didn't have before), but what does that say about NAOS' own skill when they are the biggest investor in the very manager they say was a dud and that's their biggest position? People are idiots missing this but whats new. I'm an idiot with plenty of my positions and what I didn't buy this year. Thinking earnings mattered

Amazing this has all happened even before the EGM has been called by CGA to get shareholder approval to permit it but hey, welcome to these incestuous LICs, an ASX that doesn't do jack and invisible ASIC. Clearly a fair accompli

We were suckers for re-electing the bozo's a few years ago and for their bringing the Boo-Boo into the house and letting him destroy everything. No head rolled over that and it should have. I don't think they had much cred with shareholders. Although to be fair they did get $13m from the sale to him for it. An asset that would most likely have been written down to zilch by now anyway.....a result of the performance of the house that they built themselves. So no glory there.

Either way the biggest suckers will be those who NAOS' CGA positions are off loaded to

GLTAH