Despite substantial buying by directors and buybacks, a large SP-NTA gap seems to be a permanent feature of this fund. There could be stronger anti-gap measures. For example, the buyback's SP-NTA gap target is 10%. Why not zero?
If the fund was liquidated then shareholders would receive the NTA, which is sometimes nearly 20% more than the SP.
The SPP announcement of 21/08/19 states that "The Directors are fully committed to furthering the best interests of all shareholders." In my opinion this should mean that at every AGM there would be a vote on liquidating the fund. Either the gap would disappear, or game over.
Reality check 2, page-47
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Last
$3.15 |
Change
0.040(1.29%) |
Mkt cap ! $1.960B | |||
| Open | High | Low | Value | Volume |
| $3.12 | $3.15 | $3.11 | $1.076M | 343.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 42347 | $3.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.15 | 24309 | 2 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| LSF (ASX) Chart |