Bear in mind that we 10,000 plus (or at least those of us still alive) aged investors, relied on Morningstar ratings and Financial Advisers to guide us towards this disastrous “investment”. We really don’t know if we are going to be “screwed” again, or alternatively is there is any hope whatsoever of any return in the short, medium or long term?
Looking at your CV Freddie, it would appear that you have more expertise than the majority of PIF shareholders put together. After all, as a result of your consolidation, we have paid some $200 a share, whereas you managed to acquire 1,214,271 shares or some 25% for basically zilch!
Realistically, we cannot be too critical of your acquisitions – after all, there had to be sellers for you to be able to acquire your controlling interest of our Investments.
However, does not with this controlling interest come responsibility? You have stated that at this stage as assets are realised, you do not propose to distribute dividends or return capital. Rather you intend to invest this capital in other “distressed assets.” You also stated that you intend to try and list ARL shares on the ASX. However, viewing the annual report, there does not seem to be any indication of time scale of listing or investing.
So Freddie, as the heading says “What’s your take on this??” Can we expect any return or opportunity to sell, or should we just get on with what’s left of our lives and write this whole sorry mess off to bitter experience?
OCV Price at posting:
0.0¢ Sentiment: None Disclosure: Held
