Rimcorp Property Trust No. 4 ARSN 122 836 800, page-26

@Camelia @seamisty just got the latest AR and propaganda letter regarding the Rimcorp No4....
Oh dear, not pleasant !! NTA is now -13c !
Golden Grove got written down to 6M, and seems to be almost sold ( i'm guessing it was dropped down to force the sale as Jenny probably wants this to go away !)
It seems the fund is about 2M short of meeting commitments, meaning Jenny act of piracy (claiming 2M in "hedging" costs), will fall short, and she will likely only get 600k back...........thats a shame.........
She managed to hit the fund for 95k in hedging for 2015/6............the interest risk of a 150 bps hike would have cost 105k................Blind Freddie could have safely bet that rates wouldnt have jumped 150bps
Anyway, i've done my dough (luckily only 10k), so i'll just move on............i still hold hope that a larger holder may want to come out fighting...............John Ballhausen never returned my email, Michael West ( Herald), lost interest, and, i can only wonder what the Kibbles boys are thinking
All in all, it has been a case of some bad luck with the properties, but, much more painful was the act of piracy by the responsible entity...............i do take some pleasure in knowing she won't get all she tried to take, and, her reputation is in tatters.............. I'm over it, but still, wouldnt mind meeting her in the street one day, given she never had the decency to respond to emails asking for explanations, and further details of the so called "hedging" facility..............