Sellers drying up now.
My estimate of NTA for the heads including a 20c dividend, factoring in 100% franking and a 10% buyback represents a value of ~$1.62 per share. I think the market still hasn't fully priced in what's on offer here and when things are confirmed I'm sure the SP will play catch up. It will be similar to when the dividend guidance was initially not priced in then BANG, the SP shot up following more detailed guidance yesterday.
Just had a look and Stuart's Aliom fund that he has been previously managing. It has returned 109% p.a. compounded with a 3 year track record. This could be just the start for HML as many have suggested.
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Sellers drying up now. My estimate of NTA for the heads...
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