Ann: Withdrawal of Dividend Reinvestment Plan , page-3

Looks like others may be frustrated as well. A drop greater than 7% when a buyback is in place is not a good look. Based on October figures this has dropped below 60% of NTA!

With no debt in APW, there are enough distribution-paying investments for this entity to be generating a good level of cash in the absence of other factors. In addition, management claim to be capable of enhancing the value of investments such as the St Kilda Rd property. Properties actually managed by AIMS are becoming a significant part of the fund but we get little information on their performance.

I really feel it's time for better communication from management as to strategy and progress.

Fundamentally, management seem to believe they can add value through their property management rather than just security holding. I suspect they are achieving a few things but we just don't know for sure. Very frustrating.