"The Blue Sky collapse cannot be pinned down to one single mistake. There were multiple errors by management and they were not picked up by the board of directors until it was too late. But it would seem from reading the annual report that the company's foray into retirement villages was the single biggest cash drain on the company."
From BLA AGM CHAIRMAN.S ADDRESS 19th November 2018
"In June 2018 an offshore institutional investor with experience in the retirement sector made an attractive offer to acquire our development portfolio of retirement living assets and our associated interest in the retirement living operating company, Aura. In October we finalised the sale achieving a return for our fund investors averaging 13.8% per annum (net of fees)."
BLA Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held