Ann: Response to ASX Query, page-3

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19/06/18

18:03

Post #: 33806388
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Originally posted by AllFuelledUp ↑

Well, Annexure A was probably the most illuminating thing I have read since this thing listed

I think the 2 standout points of conversation will be Cash bleed and how little is and has been invested in the market. Maybe it has been taken out to cover the tax provision? Or swing and roundaout,- we drop the cash balance when we paid a performance fee but in turn the value of JBFG picks that back up?

Accountants will do a better job than me on this. Hard part is how do you return the performance fee without impacting the value of JBFG? Would we want say $5m returned to HML if it lopped $15m off the value of JBFG and makes that less salable? I'd think the market will value the performance fees differently than recurring management fee revenue from the LICs and that will impact the IPO of JBFG.

I think I can see what they've done. And all of this seems perfectly viable, its just you need to do this arms length to yourself.

One step closer anyway. Until ASX asks for another clarification and a breakdown of the pre 30 April 2017 NTAs - those between acquisition and first upward revaluation. I can smell that one coming now

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Yep. The drop is considerable around that May 2017 mark.

So either they suddenly sucked as an operation or the NTA's prior were incorrect.

HML Price at posting: $1.99 Sentiment: None Disclosure: Held
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Ann: Response to ASX Query, page-3

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Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Nimy to raise $1.21M to explore 'newsy' WA targets

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Immutep reports strong response rate from immunotherapies treating carcinomas

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BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

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