These options are a little different from other options in that they are a flat 7.5% discount to NTA, so while they will drag the price down to approximately 7.5% under NTA in theory, they are not to a flat amount allowing investors to purchase as they wish to top up or when they see a arbitrage benefit.
I am optimistic that a top class investment manager such as Hamish is able to create a benefit over the next 3 years.
I am also interested to see how much "time value" is associated with these options since they behave differently to traditional options.
MFG Price at posting:
$44.70 Sentiment: Buy Disclosure: Held
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