The present situation is that more than 50% of the share price equals the cash currently sitting in MMJ.
The remaining 50% of the share price is represented by the investment portfolio (Circa AUD80m) which the market is valuing at AUD25m or 32c in the $.
So the real discount in the SP is approximately 80m-25m = AUD55m.
So we have a BoD who are keep themselves busy rewarding themselves rather than looking after the interests of MMJ shareholders.
IMO MMJ is a sitting duck just ripe for a takeover. There is no shareholder owing more than 10% so it would seemingly be a lay down misere.
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3 | 689442 | 0.051 |
3 | 651011 | 0.050 |
1 | 306122 | 0.049 |
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Price($) | Vol. | No. |
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