Not PIF shares, ASS.NSX shares. They have clearly stated that...

Not PIF shares, ASS.NSX shares. They have clearly stated that ARL is undervalued. They also have a track record of buying grossly undervalued assets such as Kangaroo Island Plantation Timbers. They wish to resurrect the company and use it as a vehicle to invest in other undervalued assets - which they cannot find any at the moment so are holding fire. Read the announcements, these new directors are dour and very successful, as opposed to "marketing"types.