takeover prospects

The current market capitalisation of City Pacific Ltd is only $11.4 million.(162.5 million shares at $0.071 each)

The Net Tangible Assets were $47.3 million at 30 June 2008. This equates to 29 cents per share.

The funds management fees were $38.2 million and the fees for rendering financial Services were an additional $23.6 million for Y/E 30 June 2008. The total of these fees alone is $61.8 million per annum.

At these very low prices the company could be taken over by the former management group lead by Phil Sullivan or a turn around venture capital group.