Ann: Changes relating to buy-back - Appendix 3D, page-9

May...yep, that’s me. I was underwater with SEC, but listened to their podcasts etc, stating that they were going to stick with their knitting in going for value investing rather than for growth, and that they weren’t going to be deterred. Like WIC, their portfolio remained fairly static and the disc to NAV at some stages was 30-35% ! That I believed was unsustainable and I was in a position where I topped up with SEC at 1.29, 1.30, 1.31 and 1.39, 20k shares in total. It was nail biting stuff, but the portfolio was fairly transparent and the NAV just kept rising in line with the SP. I certainly didn’t expect them to rise as much as they did and as consistently as they have. I am in BLU at 5 cents having transferred them from a private company shell a few years ago where they have done pretty much nothing since them. Fingers crossed.
Our holding in BLU reminds me of an old Peanuts Cartoon where Snoopy is lying on his back on top of his kennel saying “ There is no heavier burden than a great potential !”
Such I believe is BLU. on your mention, I will look up SXA.