Further update. I contacted WAM the other day because Geoff is a director on HM1 and (as you know) they have a specialist LIC (ASX: WAR) which would normally invest in discounted LIC situations. The feedback summary > Saba are talking with HM1 directors. They are a big investor activist in the UK, however they have only started dipping their toes into the Aust market which has a different set of tax and financial structures compared to offshore domiciles. This investment will not "move the needle" too much in terms of their overall company performance. My conclusion: I'm not getting my hopes up too far. At best they will continue to top up on SP weakness compared to the underlying NTA. Better to have them on the SH register than not. As with all LICs, if the underlying portfolio performs well, then the SP will go up. The NTA discount is only elastic up to a point before it becomes too attractive to ignore.
HM1 Price at posting:
$2.61 Sentiment: Buy Disclosure: Held
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