I agree, but ironically I think the trading halt was needed to prepare s/holders for such a capital destroying deal for Clime.
Once you claw your way through the vague announcement essentially Clime are paying $400k for 10% of a non existent adviser/licensee entity thats unlikely to ever make money (which is still owned by Insignia btw!!). Plus...theyve thrown in free servicing for 2 years, 50% equity in another zero value business etc etc
And its all a non-binding HOA - all on the hope of downstream IMA and SMA sales.
The Godfrey Pembroke adviser council has found yet another institutional host to suck blood from, whilst feigning their professionalism and independence. MLC learned, Insignia learned. This time the host may not survive.
