Whilst PAF's mc is relatively slight (~9% of PGF, I think), I fail to see the logic of the value shift from PGF to PAF holders...ie. why are they being acquired (yes, whilst technically a merger, acquisition is effectively what it is) at a 24% premium. I also can't understand why Corps Law doesn't avail some opportunity for PGF holders to vote on this (really, PM needs to articulate why this is the case). And, as has been pointed out, this strategic intent to merge the funds should have (morally...? LOL) been made visible to PGF holders prior to CR, and preferably with what the mechanics of it would be . I even got a hustle call from Nicholas Healy about whether I was going to take it up.... None of this leaves me with a warm feeling for this LIC....
Ann: Merger of PAF and PGF, page-18
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Last
$2.22 |
Change
0.010(0.45%) |
Mkt cap ! $1.045B | |||
| Open | High | Low | Value | Volume |
| $2.20 | $2.23 | $2.20 | $676.9K | 305.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 25900 | $2.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.22 | 145007 | 8 |
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| Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
| PGF (ASX) Chart |