I'm probably coming down on the EREP side too now they are at 12c.
Frankly it's the existing board who have overseen the removal of value in my opinion. Not really sure of the NTA as I do think some of the written off value actually has some value but don't see the existing board extracting that value for us.
Whereas with EREP you get a very good operatot in Greg Paramoor who will then (in my opinion) be better at adding value.
Given they are buying shares at 12c vs 11 c on market (and has been as low as 8 in last year) while they are getting shares cheap I'm not convinmced they are that much below fair value.
So for me, we have two bad options, the EREP saving grace is I think they can actually do something positive with the company longer term. Short term bothe proposals are unarractive.
FLK Price at posting:
10.8¢ Sentiment: Hold Disclosure: Held
