If you decide to go ahead with a 'punt', good luck. 2 Factors...

If you decide to go ahead with a 'punt', good luck.

2 Factors commonly discussed in the media at present which will affect share price in the immediate future:

1st of May meeting of City Pacific FMF Unit Holders to reduce CP's management fees to 1.5% (currently they charge around 2.7% - 2.9%).

Another meeting expected to be called some time in May for a change of RE by Balmain Trilogy (who wish to become the replacement RE).

Obviously if both of these meetings are successful the CIY share price may go down. If they are unsuccessful the share price may go up.

Further along the track:
IF CIY retains control of the fund and at the higher Management fee levels AND property values increase over the longer term then it's possible the share price will go up.

Other fund managers, investor groups etc are looking to take over control of the group apart from those mentioned above. "Investaguard" is considering legal action to take control of the fund. Other fund managers are 'apparently' looking - but haven't come into media attention yet.

Plenty of litigation currently surrounding the FMF and City Pacific. Only time will tell us the outcome of these current situations. Some will have merit, others will prove to be vexatious.

As a positive the share price currently is incredibly low - not much downside left. (Unless they delist!!).

Current NTA for CIY is negative. I do however note that they state in their accounts that the reporting does not allow for assets such as the right to act as RE for the CPFMF and the right to develop the Townsville Marina. Negative NTA is a breach of Financial Services Licencing requirements for them to act as the RE of the fund. If they lose their licence they lose the income stream by default. I don't know what action (if any) is being taken by the relevant 'watchdogs' in relation to this.

Those are a lot of what if's to bet on in my opinion.

Do your own research, read the financial reports for all the related companies - CIY, CPK, and the CPFMF (available through announcements on ASX and the www.citypac.com.au website).

Good luck whatever you decide to do.

Hope some of this helps you.

Regards


Nic

FMF Unit Holder only now (with units today 'valued' at 61 cents each - bought for $1.00 each).
(Sold the CIY shares a few months back)
Above is just my opinion and based on the readily available information on the internet.

Personally, I wouldn't invest my last dollar in this stock. But hey, maybe it's the "buy" of the century and I just don't know it!!