ECF had the pump with presentations alluding to the share price trading at a discount to NTA $1.19. The S.P. reached $1.125 then ENN / ECF announce a capital raise at $1.04 to assist funding of purchase of another commercial office building.
Last traded $1.07 and more than likely headed to cap raise price $1.04. Did not participate in the last cap raise at $1.10 as knew the opportunity would arise to buy in at a discount to that price.
Lets hope the S.P holds up better this time around. Their hotel unlisted fund failed to pay a quarterly dividend and when questioned, they pointed out disclaimer clauses in the prospectus. Not overly happy with my ENN, ECF, ERF, EHF investment performances.
Have reduced exposure to the group over time and redeployed funds elsewhere. Also traded some stock. IE: Buy Low - Sell high strategy.
ECF Price at posting:
$1.07 Sentiment: None Disclosure: Held
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