Ann: Successful Listing of TMC on the NASDAQ, page-10

Interesting and purely coincidentally that the percentage of TMC comprises 18% of the NAV of CDM.
I also believe that, that was close to the percentage of the old Melbourne IT that dragged CDM down to the depths previously. Melbourne IT was 19.2% of the CDM portfolio in Nov 2017 and it dragged CDM down to an approx 40cent level last year. CDM also had a SPP/Capital raising at approx $1.43 a share previously.
As good as the CDM result was last year , there are always skeletons in the cupboard and obstacles to be negotiated. Obviously by today’s drop, there are investors that thought there was more in the tank than there was !