A capital return of 20c per share is to be paid upon settlement + perhaps 7 days, with settlement to occur in late April, so we probably get our cheque within max a month. This has been promised by the company in previous ANN's- I just didn't know the CR would be so big or I would have bought more early. :+/
The ANN also says that upon the further orderly sell-down of other assets, further distributions will be considered.
The head honcho is Tony Pitt, a player in this area, and TGP has long been mooted as a takeover proposition, which is why I first bought into this share (check the AFR online for articles on this). As you can see by the HC SP graph, it's been a fairly steady incline of SP, so it seems to me that the return of capital will be *in addition* to the current SP (just my thoughts). The company has said they would deliver a CR to get the SP closer to the NTA, which is $1.57 (current SP = $1.17).
Anyway, I'm in this and know the company/trading well. Just letting you punters know- this one's been under the radar.
TGP Price at posting:
94.1¢ Sentiment: None Disclosure: Held
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