I can't see any value for current shareholder's except for the controlling shareholder. I would interesting to know what Schroder with about 10+% shareholding of the appointment of a 'no name' investment advisor to oversee and advise on the investment of on behalf of CMI for a substantial fee.
I note that it is intended CMI ( Excelsior Capital) intend to invest in unlisted trusts - that is usually the fastest way to 'lose our money'.
If the funds on hand with CMI were invested in the four banks at current prices they would return 6%- 7% franked.
What will be the share price after the changes proposed? Will share price decline to 0.50c - 0.60 c and the controlling shareholders makes a takeover offer at these prices a 50% discount!
CMI Price at posting:
$1.15 Sentiment: Sell Disclosure: Held
