I'd say the current wait on FKP spinning off its retirement assets is a decision from SGP around spinning of theirs into the same new vehicle that FKP want to create. FKP has always said that scale is key, and the larger the better. SGP is announcing its new direction on 13th May. That announcement should give us a good indication of where FKP will go. Only question will be whether RVG stakeholders have been talked into the new pool. Once the spin-off occurs, we'll see two things. One is how much interest bearing debt the retirement spin-off gets to carry. The second should be some sort of guidance about dividends not too long after. That might be the catalyst for the next leg up in the share price. Current market being as pro-yield as it is. The non-retirement assets left behind might get a leg up toward NTA too, once the, uh, "interesting" valuation of the retirement assets is out of the equation. So we end up with two companies; a yield play on the retirement side, and a NTA/Turn-around play on the rest. We'll see. But a bit more patience required.
FKP Price at posting:
$1.35 Sentiment: Hold Disclosure: Held
