Major shareholder Greg Woolley has revealed his hand (that was fairly obvious): he and his posse wish to use the rump of RCU as a platform to build a new investment business. The exact nature of the new business has not been revealed and will be put to vote at a unit holder meeting in March. RCU has been sold down to 43c as result. Some have been speculating a capital raising may be forthcoming, but that's exactly what I would like to see: it will shake out even more small shareholders from the stock presenting a further buying opportunity at hopefully an even bigger discount to cash/assets. As I have been disclosing, I am buying RCU on the way down and I keeping plenty of cash ready to buy at lower levels and/or a capital raising. And if you don't believe me, there are also plenty of 'in the know' investment bankers in this stock and I am betting they would also like to see lower prices.
Kristian
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