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$1.99 henry morgan limited

I'm calling B/S on all of the above. Your funds are captured...

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10/04/18

14:27

Post #: 32349076
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Originally posted by uncystu ↑

Apologies for the delay in getting this update online - my real job keeps interrupting. :-/

Called Kevin Mischewski at around 10:30am this morning. Kevin himself answered. He says that they still don't have the NTA report from BDO and he doesn't want to use the word imminently - allegedly this word originated from BDO back in march - but he hopes to have it soon. One of the contributing factors for the delay is that all of the moving pieces involved are still moving and BDO constantly want the most up to date information from HML. BDO are also being very cautious in the current climate and want to make sure they get it right. Kevin says that HML directors are in continuous communication with BDO and are providing all the information BDO require to complete the report, while also keeping pressure on BDO to actually deliver it.

I asked Kevin why BDO would need a constantly updated stream of information going into 2018 in order to calculate an NTA from 2017. Kevin says that BDO intend to provide an IER based on an up to date valuation.

Overall the conversation was very positive and reassuring. Kevin assured me that good results have been achieved from trading and the company is continuing to do what it does regardless of the ASX trading suspension.

When I asked Kevin about plans to protect the HML share price upon the resumption of trading, he said that they can't manipulate the share price - it's up to shareholders whether they buy, sell, hold, etc. The HML share price is at the mercy of the market once it starts trading again.

Kevin was able to confirm that the directors still intend to pay quarterly dividends when possible once trading on the ASX resumes.

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I'm calling B/S on all of the above. Your funds are captured capital. There is no incentive for management to have your shares relist and then crash. If and when they relist it will be too late and you as minority holders have no power to change anything. Your only chance at impacting resolution would be to wait till the capt is sighted at sea and threaten to pull his plug out.

HML Price at posting: $1.99 Sentiment: None Disclosure: Not Held
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