What are my shares worth? On 5 September 2012, Premium Income...

What are my shares worth?
On 5 September 2012, Premium Income Fund (PIF) assigned certain assets and liabilities to ARL. The value of the liabilities transferred was based on accrued liabilities as at 4 September 2012 and related to unpaid council rates, water and other statutory liabilities . In return for the assets and liabilities, ARL issued to PIF 830,532,768 shares in ARL. PIF subsequently distributed these shares to PIF unit holders. Following is a link to the marketing announcement of the transaction made by Wellington Capital Limited, responsible entity of the PIF: http://www.wellcap.com.au/assets/pif/updates/2012/nsx release-sale-of-assets-to-arl-5-sep-2012.pdf On 11 December 2012, Wellington Capital issued correspondence to ARL stating that the Net Asset Backing of shares in ARL, based on PIF's 30 June 2012 accounts, is 5.3 cents. The Net Asset Backing of ARL shares can be found on the home page.