Whqt makes you think Rusty is thinking about Nero's tax loss position? A capital distribution is not a CGT event unless the distribution amount is greater than your cost base, which it won't be for most holders and certainly isn't for Nero.
There is no way Nero would sell CVN post cap distribution with a Director on the board and so much potential value to be unlocked - with a zero EV currently assigned to it by the market. If anything Nero would buy more on market imo, I certainly will be if it's a zero EV post distribution, if it doesn't get sold beforehand that is.
Rusty had the right idea!
A - making sure CVN didn't buy anything!! Phew! AC was talking about acquisitions. Heck they even started buying carbon credits. B - trying to fast track the return of value to holders. It's too risky being a one trick pony and unfortunately Santos is making selling this harder. C - trimming the fat with cost reductions. CVN's C-suite salaries are a lot less now and I am so glad a technical team are not on the books being paid looking for acquisitions.
CVN is still for sale with JP Morgan shopping it around. What we are seeing now is tax loss selling and astute punters just picking them up on the cheap. Good on ya for backing the truck up at 10.5! I've been adding but one can't buy everything unfortunately so hitting my diversity limit on it.
CVN Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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