Summary of the latest round of queries from the NSX for JBL:...

Summary of the latest round of queries from the NSX for JBL: https://www.nsx.com.au/ftp/news/021736866.PDF

JBL: Thanks for your last letter. We really enjoy reading your letters and replying to them. We should do this more often. By the way, we noticed that we're still suspended. What's with that?

NSX Question 1: What were you thinking when you invested HML's and BRL's money in JBFG?
JBL: Well, um... HML was meant to be investing mainly in global macro trading and just a little bit of unlisted securities. That was getting boring so we decided to invest a lot more in unlisted securities. In for a penny, in for a pound, right?
We invested it in JBFG because we just think it's awesome.

NSX Question 2: That was a pretty stellar increase in share price of JBFG - How did that happen?
JBL: Like we said, we just think JBFG is awesome. We even found some auditors that agree with us.

NSX Question 3: So this was a pretty big business deal. Who handled negotiations from the JBFG side?
JBL: Ummm... let's see. Certain unnamed people from JBL spoke to certain unnamed board members of JBFG. I can't say for sure whether the people from JBL and the people from JBFG were one and the same, but there were definitely lots of meetings and stuff.
But I'm guessing you still need names, so I'll throw Jim, Daren, Peter and Michael out there for you.

NSX Question 4: Your valuation of JBFG is simply beyond comprehension. You're going to need to show us how you worked it out.
JBL: Ok, we'll show you but don't show anyone else.

NSX Question 5: So are you telling us that both HML and BRL are sitting on massive unrealised gains as a result of their investment in JBFG?
JBL: Yeah, sure. The auditors seem to think so.

NSX Question 6: So JBL would be receiving pretty decent performance and management fees for making this investment, right?
JBL: Yep. The more JBFG is allegedly worth, the more we get in fees - that's the way it works.

NSX Question 7: Did you at least consider any other investments before in investing in JBFG? Not even the favourite in race 8 at Flemington? Not even pink diamonds or loaning money to a Nigerian prince?
JBL: Oh we get soooo many investment opportunities thrown our way, it's so hard to decide! We considered sticking to the global macro thing but with the whole Trump and Brexit thing going on it was all just too hard.We also checked out a few other options. We'll tell you what they were but you can't tell anyone else. Ultimately we decided that all the other options we checked out just weren't as awesome as JBFG, so we just went with that.