37.2c -VS- NTA : Simply because our directors fail to follow,...

37.2c -VS- NTA :

Simply because our directors fail to follow, although flagged, what other property companies & trusts have done to address this same problem, "sell down assets", build up the cash, slowly removes any value doubts, and force a reassessment of value based on cash + assets to NTA rather than pure assets, possible value doubts & a complex internal structure. A market sign of the times.

The real question is what are directors doing to address it ?

I was disappointed with the June 13 announcement. All that time to come up with a "possible" idea & we will get back to you in August. Too slow gentlemen ! You are not responding quick enough to market forces. You are suppose to have your finger on the pulse of the market.

Reminds me of Julia & the boat people. We know there is problem, but the board is moving with the speed of a snail on the matter, to deflect criticism, get us some breathing space, flick it to a committee to review & come back & advise. Sound familiar ?

Asset sales gentlemen, assets sales, they do not have to be huge ones, but there needs to be regular movement, show the market some conviction about addressing the SP-vs-NTA in balance.