that explains it.
not sure how to take this news.
On the plus, it explains and clears some of the unknown. This company was set up originally as almost a sign of good faith and a way to make money from deals that Allco were passing to Record Investments.
It would appear that this company, which appears not to be tied too closely to the parent, had too much gearing through margin facility and had to sell. ie a massive margin call.
All things being equal, this has little to do with the parents profits, but does not do much for people who want a transparent arrangement.
Personally see it is a positive the more i think about it. Especially since AFG once again have said wait for the profit announcement.
1.70 to 2.50 in minutes, page-12
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