Can't find the article but seems like a good move All other things being equal it reduces NTA by 3c to $1.10 but provides cash which they could use for a buy backs and/or to cover any non hedged debt It also provides some comfort on the value of commercial assets , if all ECF assets could be sold at 4.8% discount to H1 FY23 valuation NTA would be $1.04 which is much higher than the current SP suggesting that the SP has overshot to the downside (assuming the SP is reflecting fear of valuation downgrades which seems logical as the nearly 12% yield at current prices should not be weighing on the SP)
ECF Price at posting:
79.0¢ Sentiment: None Disclosure: Held
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