Never thought i'd think this as a BUY given the crap...

Never thought i'd think this as a BUY given the crap shareholders have endured since this saga. But with the current 33% discount to NTA at 30c seems very compelling. Remember this NTA reflect's a current portfolio of 100% cash. From Sulieman's email to shareholders on 28/6.

"Our NTA (30th May) was 30c per share and represents cash at bank, less outstanding liabilities, (the outstanding JBL and JBFG loans are currently not attributed a value in the NTA)."

If you take out say 3% of that discount to cover directors fees, management fees, etc you are still buying BHD at 70c in the dollar. The new directors have been buying up too which instils confidence. Further from Sulieman's email...

"We are managing the investments in house in order to reduce the fees to investors, there are significant tax losses to claw back (avoiding tax on gains within the company) and there remains potential resulting from the pursuit of JBL and JBFG loans."

Unless there is further legal action by The Pirates is anyone seeing why this isn't a screaming buy right now? I'm also not sure about the new directors trying to wrangle the company out of the IMA with JB (which are in Administration? So this means the IMA might become null and void) but I don't think The Pirates have any firepower now to fight anything in court. They have also run away from accountability in HML and JBL, so are keeping a low profile.