Ann: New York Asset Sales , page-5

Thanks psi81,

the outsome was really telegraphed i.m.o.

AUD weakness is a real bonus - I wonder if they will hedge?

ILF is now in a very strong position. Whilst a distribution will be reinstated the majority of cash will be deployed.

The market for retirement village assets is diabolical at present (I have exposure in the industry) and there is an opportunity to shrewdly acquire assets at cyclically low prices.

I rate Simon Owen who is the current president of the Retirement Villages Association and have some confidence that he can create good long term value.

I think there is good upside in this but the business will need to find its natural long term shareholders once internalised.