Ann: Suspension from Official Quotation, page-21

Going by recent announcement, any dip in 'Valuations of unlisted investments would hurt HML considerably...

Most gains seem to come from the unlisted investment valuations......

HML NTA,

$64,538,785.59, comprising:

 Cash: $15,038,279.59
 Listed investments: $5,812,358.00
 Unlisted investments in: o Bartholomew Roberts Ltd: $14,114,148 (Cost 4,300,000)
& JB Financial Group Ltd: $29,574,000. (Cost 6,300,000)