NAOS has a very large 31.24% holding in this company. Most of these shares (if not all) are held in one LIC (ASX: NCC). This LIC is a geared entity via the issue of Convertible Notes (ASX: NCCGA). There are financial penalties associated with these notes if the LVR in the LIC exceeds 50%. See post from @EarlyRetiree > https://hotcopper.com.au/threads/ann-nta-portfolio-update-may-2024.8048532/page-21?get_post=true On the surface it looks like this company has gone nowhere since Consolidated Finance Group merged with Platform Finance Group in Oct 2022. The SP has hovered around $1 since 2014, within a range of $1.80 and $0.30. It's a small fish in a big pond with plenty of competition. No moat. I've read the preceding posts, but I still fail to see what NAOS see in this specific company to justify owning a third of it. Don't tell me it's purely interest rate dependent, because that's a tide that will lift all boats. Any insights would be appreciated.
COG Price at posting:
$1.12 Sentiment: None Disclosure: Not Held
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