Hi Ambiguity,
Having read the document in its entirity I believe the missing piece in relation to MMJ's Investment in Harvest One Cannabis Inc is is follows:
"The percentage holding is expected to reduce to approximately 26% following completion of the acquisition of Delvire."
The announcement, whilst informative, contains numerous errors which should have been picked up prior to releasing the document.
Examples include listing an incorrect email contact address at the top of the header (info@mmjghg) and in the body of the document there are several instances of sentences which do not make sense.
Example:
"Capital Management
As announced on 22 February 2019, the Board does not consider an equity raising to be in the best interests ofshareholders at present due to the given the material discount (currently 40%) of the MMJ share price to its NAV. "
One would reasonably expect that a proof reading of the announcement would have identified these errors so I must concur with your sentiment that MMJ should pick up its game!
Surely, shareholders in an AUD55m ASX company deserve better communications than this.
MMJ was strongy recommended to me recently however the results of my due dilligence have caused me to think twice prior to making an investment.
Maybe management should consider this when seeking reasons for the disparity between the NAB and the SP.
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- Ann: MMJ NTA Backing and Portfolio Performance
Ann: MMJ NTA Backing and Portfolio Performance, page-8
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