Can anyone tell me who currently has the largest shareholdings in the company? My understanding is that Kestall superfund and Desertfox, both controlled by company directors, have holdings of >30% each?
The directors recently(end April)announced a company NTA of + $7, this increases each time the company buys back shars under the NTA valuation and cancels shares, I beleive?
So, if this is the case, why would current dirtectors look to rip off shareholders, given they have the largest holdings? I beleive the directors willeventually wind up the company, but will look to distribute assets amongst existing shareholders at +$7. Think about it if the hold about 2 million shares (30% holding)and they make a spread of at least +$1 (but I think this is more, given the entry prices)...thats not a bad return, especially into a SF paying tax @ 15%....? So, no rush to sell into the market, you will just be increasing the company NTA and existing shareholders total distribution of assets on wind up.
Just my thoughts....time will tell I suppose.
DYOR
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