Ann: GEO Property Group sells Bankstown Business , page-2

re: Ann: GEO Property Group sells Bankstown B... First class result again - unconditional sale for $22.6m, a full 20% above BV. And the market yawns.

But this further derisks the business, and must increase the likelihood of sealing term finance. Maybe even a final 1c dividend ......and a seller knocks the sp down.

Geo's profitable trading is increasing value all the time. Many will be frustrated but I like these situations a lot and could not resist another chunk It depends on individual levels of conviction.

The $4m profit here will help keep the 2011 profit similar to 2010. Depending on dividends, NTA could be close to 40c by June 2011. I can't see the sp staying close to 20c once that happens.

Also, once the final 2 investment properties are sold, the trust structure becomes superfluous. We could end up with a simple company structure. If that happens and we remain undervalued, a predator will take us out imo.