The announcement was referring to the special dividend of 1c that, as you say, is already in the bank. It was referring to those shareholders who elected to participate in the DRP and the value that was applied to those issued shares. GVF, it would appear, needed to explain that their ascribed value was not on a "discounted" basis to market price. Not been a participant myself, but assume when the average market price of the shares to be issued is below NTA value, then there is no need for the issuer (GVF) to incentify by discounting. A logical outcome would also mean that GVF purchase on market any shares that are required to satisfy the number of shares issued under the DRP. (therefore not increasing the total number of shares on issue at a discount.) This is an opportunity to recognize the excellent performance of GVF compared to some of the LIC's peers.
GVF Price at posting:
$1.27 Sentiment: Buy Disclosure: Held
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