I tuned into the webinar this afternoon. I had actually never heard Tony Pitt speak in person before and felt the webinar might signal a much needed change in tone from TOT so I was very interested to see how it would go.
I thought overall he spoke well and actually slipped in there that they issued terms to a prospective tenant on half of the vacant floor at Cremorne this morning so hopefully an announcement could be imminent there.
He specifically mentioned fund through development opportunities and expiring single asset unlisted funds as candidates to merge with TOT and grow it's scale.
He also expressed confidence that the property market was near the bottom of the cycle and said that as TOT is unhedged it's asset values should start to increase at the same time as it's interest expenses start to come down a little bit (they benefit straight away from the cuts).
The Q and A was run by a host from Share Wise and I was a bit disappointed that he significantly watered down my questions on the underperformance of TOT in it's life as a listed company.
It seemed there are quite a few other interested holders as it wasn't just me who submitted them.
TOT Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)