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16:46
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Originally posted by Locust1:
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RFF which is the unit trust listed on the asx doesn't earn management fees they pay them to RFM. This is a completely different structure to Bluesky which using Rural Funds Group as an example had RFM listed on the asx not the other way around. Now it seems that one of your and Bonitas main issues is that the valuations of the assets in RFF are overvalued and therefore 2 things are occurring
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Even if you backed out all the revaluations highlighted by Bonitas, (which will never happen) when you add back the profits generated over the last 6 months RFF still will just have assets over the $400m requirememt under the debt covenant.
(20min delay)