Has anyone tried to work out what the dilution effect of all these options, loyalty options, and was their convertible preference shares or something also out there is?
Was just glancing quickly at the annual report, and thinking the 15% discount to after tax NTA that appears on the surface might be lucky to be half that in reality taking all these factors into account. Historically this LIC also has not shot the lights out with performance. Hence I am a bit surprised where the positivity is coming from in the context of no major discount to NTA and no history of good performance? Is it just the feeling that the portfolio stocks look ok and future performance will improve from past performance? Even if all the options get exercised the LIC will arguably be too small, will that mean in the medium term they will continue to issue more stock at a discount?
GC1 Price at posting:
88.5¢ Sentiment: None Disclosure: Not Held
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