The overhang is the unknown situation of ENN, which is currently ASX suspended and ongoing questions if they can avoid VA and if they do what the shell will look like. See this weeks article in the AFR & ENN annoucement to the ASX 2 days ago) Personally i dont see it being an issue, but until its resolved i suspect the instos will have a wait and see approach. Impacts the future of Harris St property and who will be the management of ECF. Hopefully they just bring it inhouse.
From half year accounts On 23 August 2024, Elanor Investors Group (ASX: ENN) requested, and the ASX granted, a voluntary suspension of trading of ENN securities on the ASX to enable Elanor to consider a range of options to stabilise and maintain its ongoing financial position. Elanor Funds Management Limited (EFML) is a wholly owned subsidiary of Elanor Investors Group and is the Responsible Entity of ECF. If Elanor Investors Group is not able to stabilise and maintain its ongoing financial position, it may cast uncertainty about EFML’s ability to act as Responsible Entity of the Fund.
ECF Price at posting:
60.5¢ Sentiment: Buy Disclosure: Held
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