Ann: 249D Request for Directors to call a General Meeting, page-17

Well I will combine both issues:

If they did pay up then you would have the answer why their share has not done well. If I was them I would sit on the sidelines and wait until it becomes clearer as regards to what extra value can be extracted. Having a listing these days may not be an asset as you cannot backdoor anything unrelated into it. You cannot shut it down with all the uncertainty as well. It seems it is exactly what they are doing - so very logical and yes rational.

As regards GC1 and their cash pile - I actually think it is a wise position right now to be pretty cashed up. Maybe they are waiting for clarity on BHD or just waiting for this market to back off. With the fight on inflation still showing no real impact it is increasingly likely we overshoot and recession almost always creates bargains.

I think that GC1 hasn't probably done as well as we all expected. However 5 years ago WAM was $2.49 and today its $1.445. 5 Years ago GC1 was $1.11 and today its 50.5c. Yes worse but it does point out to the fact that 5 years has not looked kindly on stock pickers. If you are asking me what I invest in I am a very different player - I don't understand small caps. I think you are playing the lottery. A few do exceptionally well but a lot do nothing. I would probably invest it in DDH or BKW lol - however right now I am also holding wads of cash.