Ann: GQG Listing, page-73

Hi All

The pre-quotation disclosure statement shows PAC received more shares than the 4% number I was expecting. It is an additional 1M shares or $2M (every little bit counts).
PAC holding is 119,121,254 shares. For every 10c movement in GQG share price, it moves PAC's underlying net assets by 23.3c.
It also reduces the other parts of PAC market valuation by 4c per share, from $1.81 to $1.77.

I believe that is what Copia Investment Partners are looking at.

PAC is ripe for a break up as a Net-Net buy. Someone has to run over the number of PAC now and sell off the parts.
If a Private Equity players pitches a bid at $8 (unfortunately this will succeed) and then just needs to hold GQG shares for 9 months before selling off. You essentially get the rest of the business so cheap, you can hold and rake off the current earnings of 26c per share from other boutiques for 7 years and have most debt paid off.

It would be nice to have a spare $400M lying around somewhere The things we could do.

Best of Luck
Lost