Ann: FY23 Results Presentation, page-4

The part that jumped out at me in here is management being focused on closing the discount and using the sale of non core assets (which is Home HQ Artamon) to facilitate this (if they get book value for this asset it will bring in 4.5 million so it’s hard to see what they can do with that other than a small buyback?) . There is also some talk of a potential merger which I think is probably the best option for TOT and some other small REITS in the next 12 months. I would have liked to see management acknowledge how poorly timed the office purchases were too even if I still think the underlying buildings are very good quality.