‘Embarrassing, scandalous, irrelevant’: Costs mount in Waislitz case, page-13

A supposed NTA of 22.9 cents - taking the lower of the post and pre tax figures.

A market price of 9.9 cents… And we refer to this as a “discount”.

Let that sink in.

Then you have a board of directors, who know this thing has no liquidity, willing to do nothing. Nothing but self-interest and a desire to line their back pockets.

On top of that, unlike other countries in the world, there is zero recourse to do anything about it.

You then have the chief problem child taking a controlling interest so no one can do anything about it.

All of this out in the open, and yet he is still lauded as some kind of investment oracle.

The AFR could be reporting on this - instead they choose to focus on the future sister in law who looks like she is AI.

Surely, out of the all the directors there is one person, just one who actually knows what their duties are.

This thing is a classic case of why closed funds need to be buried for good.