weekly nta, page-6

Hello Box.
They don't need to sell down any stocks.They sell us Bonus shares at a $1.20 and buy them back at $1.40 with the cash we give them.Still with a NTA at $2.36 or whatever it is they aren't really losing.These LRF2 shares which comprise 30% of the shares on issue which can't be sold under $1.51 (i think from information gained on this Forum) concern me.If they are buying back shares at nearly this price how does it all fit. Why not just cancel LRF2 and have done with it.Or hand them out in DRPs when it is over the $1.51 value or as Bonus shares in the the next two years if the bonus shares exceed $1.51. Somehow the overiding aspect of the LRF2 is that it should directly benefit present shareholders and not only through the higher dividend but as a opportunity in the future to increase our holdings at a substantial discount. Offer them at breakeven price when LRF SP is well above.
RAB