Fair question. The following stats will summarise it:
1) Dollar asset value $62 million (book value)
2) Debt $29 million
3) Cash $3.5 million
Therefore Net Assets $36.5 million.
50 million shares on issue gives around 73 cents per share assets.
All rounded figures, but not far off.
MJS
AHO
australian hotel fund
real asset backing $0.74, share price $0.40, page-3
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