42% disc to nta, 8% div broad blue chip exposu, page-10

It seems like the activist is gone, hence likely that the new purchaser would accept 1/10 at 13.5c. They would be silly if they didn't. I suspect the stock overhang is gone as Jim Craig (activist) who initiated these proceedings with the t/o panel is gone.

Let’s give Farooq and his clan the benefit of the doubt and they have paid out a lot of dividends over the last 12-24 months.

They have confirmed that going forward 1c per 6 months in dividend/capital return. Hence 2c p.a. gives a yield of 10% at 20c.

NTA is now closer to 29c, as MEO is on the up. Company has $6m in a diversified fund and $6-$7m in cash. At 19c/20c stock is a bargain.

This is one of the cheapest LIC's on the market.

Once the overhang thing is history, the NTA gap will surely have to rise close to its NTA. I think seeming this LIC is fairly simple with its investments (Cash, diversified fund & MEO) anything more than a 10-15% discount to NTA is unwarranted.

p.s. i bought yesterday and today.