The change of laws will only effect a small part of IMF's business ie. the litigation funding of insolvent companies (like Sons of Gwalia), the majority of IMF's income is from the litigation of SOLVENT companies (like Aristocrat, AWB, Centro etc) which is for things like the breaching of continuous disclosure obligations to share holders etc.
When I got in contact with IMF this morning they told be that the governments announcement "had an effect on perception but I don't think there will be any material effect on the future of IMF for the reasons set out in the announcement we made to ASX earlier this morning".
Should be good buying at these levels.
govt to overturn sons of gwalia ruling, page-15
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Last
$1.11 |
Change
0.075(7.25%) |
Mkt cap ! $313.6M | |||
| Open | High | Low | Value | Volume |
| $1.05 | $1.12 | $1.05 | $376.9K | 343.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $1.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.12 | 500 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| OBL (ASX) Chart |