yeah no distributions until all bonds paid.
The capital distribution in 2013 that GJT present on page 8 of the Feb presentation summarises why I hold and have a buy recommendation on this stock.
Though I suspect if property prices there increase it may just be business as usual and no asset sales, if that's the case the value will be reflected in substantial share price appreciation as opposed to substantial capital distribution. 2013 is a long way off....
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