Ann: Half Yearly Report and Accounts, page-27

challenge with holding this are many:
- totally illiquid so impossible to buy/sell a decent sized position
- guidance is non existant
- dividends are pointless (to be honest)

On the plus side:
- at least you have visibility each quarter (albeit late) of how the UOA is doing (in fact we should be getting something anyday now)
- the company is rock solid financially.....UOA the 71% subsidiary has ~AUD560m which translates to ~400m to UOS shareholders, and then you have most of the land & building on the balance sheet at cost so should have multiple years of decent performance on the books even if they just develop & sell what they currently have
- FY2021 EPS of 5.3c even in a 'poor' year so lets hope 2022 shows what the company can do

The other challenge as you have pointed out is the age of mgmt.......you'd want to hope they have been doing succession planning to continue the conservative but outstanding performance the company has delivered......potential future risk (well perhaps more immenent rather than future)