A small LIC. Invests in aussie midcaps. Looks to me somewhat undervalued, has been for months Last sale about $1 Last published NTA (Pre tax, undiluted, 31 Dec 07) was $1.51 when all ords was 6421 (those were the days) I estimate Today's NTA to be $1.29 (all ords 5473).
Stock was issued with 1 $1 option for every 2 shares. This means diluted after tax NTA would be about $1.12 No doubt option overhang has helped keep stock low. However benefit in this climate is that there is some protection against stock going below $1
Has anyone got opinions on this stock?
ELI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
