friendlydwarves,I do not disagree with anything you have said,...

friendlydwarves,

I do not disagree with anything you have said, however at some point in time it will either be bought out or liquidated.

Leaving it listed and using it as an LIC with poor performance is only costing LC so I am assuming that she she smarter than paying all the compliance costs and dealing with minority holders and will, when its in her nest interest either take it private or liquidate.

I am suggesting that from now till end of August it is in the best interest of the dominant shareholder to suppress the SP and buy up more shares.

A takeover at a 23% premium to the trading price of say $3.00/share provides the major shareholder significant up side and utilising the creep provision over the next 6 months and then 2 months hands them a further 6% control but needs to be balanced with acquiring shares and not pushing the SP to high so that a takeover is not expensive.

I do not believe it will stay listed. The major shareholder will not be happy that the LIC has lost money so will be even more sensitive with circa $125m to invest. Having said that I could be wrong and ECL stays listed but that would just be a really dumb move by anyone with half a brain I would have thought.