I talked to Valad today and got the same response re Noosa....

I talked to Valad today and got the same response re Noosa. Sounds like everything has been on hold due to the holidays. The MBO proposal could take a couple of months to be presented. A comment was made that 95% of what has been in the media is untrue. I do not know how an ordinairy shareholder is supposed to find out any information. This is a tight ship. The Kimco debt is weighing on them as the interest will ratchet up if it is not paid back in 2012. Maybe this will be the excuse used to try and gain shareholder acceptance for a low sale price for the European assets. I could not glean any info on the December valuations but they did say that the figures coming from other Australian property companys do not show any write downs so here is hoping.