I may be wrong but I don't think this is a tax play at all. It is a managed trust which has different rules relating to distribution to unitholders and I dont think it can be part of a company tax consolidation.
The key value for anyone is to take the remaining value of the trust which has a NTA of around 4c per unit after a provision of something like 7c per unit. That is gross value of 11c per unit but written down to a more realisic value.
If you think the writedown is too conservative (and they were in some of the other loan assets that eventtually matured) then you may for example get 6-8c per unit by holding the delisted units for another year. Not a bad return on an entry price per delisting of under 4c.
AYT Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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