Chairman's address confirms open-ended structure (e.g. ETMF, mFund, unlisted managed fund) which will provide buy/sell liquidity at a small spread around NAV:
"The Board is determined to eliminate the discount and to deliver to those shareholders who desire liquidity at a price more closely approximate to the underlying asset value with a clear pathway to redeem at NTA, while also providing other shareholders the option to remain invested in the strategy. In the absence of a better alternative, at this juncture, the Board believes that an orderly conversion of the Company's investment portfolio to an open ended trust structure via a scheme of arrangement is the most appropriate path to liquidity while enabling a return closer to NTA. A shareholder meeting to consider this proposal in depth is expected to be held in the first quarter in 2020. While the focus is on the scheme of arrangement for the conversion of EGI shares to an open ended trust, we continue our investigations into ASX platforms for open ended trusts with an intention to have them completed by end of CY20. Brian O’Sullivan is available to take any questions on our planned approach."
EGI Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
