I wonder if the Board will do the same with ECF as they have...

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sloanrunner

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29/06/22

17:10

Post #: 62278112
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Originally posted by Paydirt7: ↑

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.

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I wonder if the Board will do the same with ECF as they have done with ERF and take it private offering shareholders a premium to the current share price?
The Boards reasoning for delisting ERF was due to the fund consistently trading at a discount to NTA which is also true for ECF and there's not much point in being listed if fundraising and exit price is consistently below NTA when you can raise at NTA off market.

I like the ERF deal and will probably hang on to my holding when it delists as it even offers NTA value upside above current NTA but obviously with reduced liquidity.
I plan to hang around here in ECF collecting the dividends knowing there is potential for a nice surprise one day!

ECF Price at posting: $1.04 Sentiment: None Disclosure: Held
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0 Great analysis

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