2icThank you for a very high quality and well-researched post. I...

2ic
Thank you for a very high quality and well-researched post. I understand and agree with all you have said.

I have now assumed exchange 31 Dec 2012 as a more conservative and probably realistic? position. This results in ANNUALISED RATE OF RETURN of 36.3% PER ANNUM in my calcs. If you assume "perpetual", running yield is 17.8% PER ANNUM. These calculations assume average BBSW to 2012 of 5%.

Do you think there is a chance Capitaland will buy AAZPB similar to CBH? Or will they simply allow for massive dilution of ALZ on exchnage?