Yay.. first post! Long time reader of HC though. Okay, I've...

Yay.. first post! Long time reader of HC though.

Okay, I've bought into ASH at an average price of ~$0.26 in the past few weeks. Based on my research, ASH seemed to me to be a good little small cap that has:
(1) a serious lack of love from the market based on historical disappointments
(2) an autocratic founder / major shareholder (in my view)

I also took heart from the investment made by Australian Ethical...

One element of my research that has been a 'punt' is the news around the IMF Bentham class action.

I had another look tonight and it appears that IMF Bentham is still recruiting for the class action. I also had another look at the prospectus (apparently) issued on 7-Aug-2014 which was available in my CommSec account.

Section 2.2.3 of this prospectus document says: "...Funding arrangements are modified by both Commonwealth and state governments from time to time. Recent examples of Commonwealth Government changes include the removal in August 2013 of the $3,000 employer incentive payments in relation to existing workers undertaking a traineeship or apprenticeship for qualifications that were not listed on the NSNL. In addition, the Commonwealth Government replaced the Tools for your Trade incentive of $5,500 with the Trade Support Loans of up to $20,000 in July 2014. State governments regularly review and realign course funding."

Therefore, it appears to me the class action is not based on sound foundations.

Do folks here and fellow shareholders agree? Really appreciate your views.

Disclosure: Of course, it is apparent and I'm happy to acknowledge that I'm biased in favour of the ASH share price taking off.