Hard to say if it will succeed. It is still way under NTA (67c at 31 Dec with apparently no pressing issues in terms of debt). But this is so thinly traded it is hard to assess - heavily controlled by large holders with lots of low activity long term holders I suspect.
The recent portfolio revaluation announcement (not showing on HC?) shows a slight decline but is heavily affected by write downs on the Tasmanian properties - these were a source of concern due to the problems of the tenant - so hopefully this revaluation has picked up all the bad news.
Unfortunately the NTA drop of up to 3c (assuming no other changes)will strengthen the hand of the fund manager who is arguing for the offer and really seems to want out.
MIF Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
