Great to see the Board of SEC acting in the best interests of shareholders by taking action to address the persistent discount to NAV.
That said, it is an odd mechanism for determining the future of the fund.
Why 5%? Why this 3 months? And why based on the close of the day? Because SEC is quite an illiquid stock, it would take quite a small volume of trades to swing the needle one way or the other. Random whims of the market could make the difference. Or a significant buyer or seller over the period.
I would have thought that the Board could just speak to its shareholders and see what course of action they would prefer. In any event it will end up at a shareholder vote.
Great to see the Board of SEC acting in the best interests of...
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Last
$2.34 |
Change
-0.080(3.31%) |
Mkt cap ! $140.0M | |||
| Open | High | Low | Value | Volume |
| $2.41 | $2.41 | $2.26 | $234.6K | 101.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 21502 | $2.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.37 | 2629 | 1 |
View Market Depth
| Last trade - 15.50pm 13/06/2025 (20 minute delay) ? |
| SEC (ASX) Chart |