Well wake me from my slumber on this one but something appears to be happening. My read of this document is that they are saying the following:
1. They have not yet received the BDO report (although BDO are waiting on something..perhaps a reply from HML?) but it might actually be really soon
2. They have gone to pains to remind us that KPMG audited the JBL stuff for June 30....and then affirmed (?) that again for Dec 31. There really are businesses there
3. It's sale value at $6.60 will clear them $6m above that Dec 31 KPMG value. Are they reading our comments about what we think the NTA is?
4. After its sells off JBFG out of HML it will only hold cash, listed assets and "readily realisable securities". Whatever they are
Notwithstanding the monuMENTAL clunkerfunk this has been, it is at least pleasing to see there is movement at the station and we are in the home straight.
I hope to see them one day and wag a very pointed finger and tell them I am glad I made some good money from this but please don't ever do that again.
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