Ann: Update on JB Financial Group transaction, page-12

Confirmation that this is a blatant sham related party transaction to inflate NTA.

For those thinking this transaction 'deals with the unlisted asset problem' HML will still be holding unlisted assets, just not in the form of equity.

Given that the market saw under HML's skirt with this morning's disclosure of NTA calculation breakdown, HML becomes a lot easier to value.

Assets (ex unlisted) = $8.0m or $0.26 per share (pre-tax)

If HML is ever allowed to trade again, that's where I expect the price to move rapidly towards.

Let's hope ASX make HML disclose unlisted vs listed/cash assets on a go-forward basis.