hello..., page-6

I plan to make my money on GPT by just sitting tight and not doing anything.

Rents are coming in, dividends are still being paid... I hold @ around $1 / share - and whilst day to day it may be up and down, in the long term I am convinced there is much much more value in the company and its assets.

Consider since July-08 when it made its earth-shattering announcements:
- an extra 1.6bn to secure the balance sheet
- renegotiation of covenants
- a 40% or so reduction in benchmark interest rates
- some serious cornerstone investors
- removal of terrible management / board members (Noseworthy / Lyons)
- SGP taking significant stake vindicating belief in the companies value

All of this makes for a much much much stronger company than in Jul-08.
The value is there, even if the world isnt interested in unlocking that value door today.

Thats why they did a rights issue and renegotiated the covenants - essentially saying:

"we know that with time the value of our assets will be realised, to make sure that we have that time, we will issue some rights, and in the meanwhile, we know that our rent continues to get paid by strong clients, and our rents continue to show solid growth"

Bad play by former management to let things get so tight - thats fixed now - in the past - strong asset base remains on an even stronger balance sheet as a result of actions taken.

Its time to let the wounds heal, and the rights issue has bought the time for that.