Gosh, the drama just keeps unfolding! First, there has been judicial approval of the redemption request and second the estimated net assets are 56c to 58c. There are some potential legal claims against the trust which could at the worst case scenario could reduce the payment by 15c. This is highly unlikely. It does look however like my estimate was far too conservative, however it's not over 'til the fat lady sings and I won't be surprised to see some form of counter attack by the major shareholder before this deal is done.
The deadline of 8 March to submit redemption requests is tomorrow, so if you are an eligible unit holder then you need to consider getting your requests in ASAP. As it is now too late to buy units and apply for redemption, it is not surprising to see the unit price wallowing at ~44c.
Kristian
The deadline of 8 March to submit redemption requests is tomorrow, so if you are an eligible unit holder then you need to consider getting your requests in ASAP. As it is now too late to buy units and apply for redemption, it is not surprising to see the unit price wallowing at ~44c.
Kristian
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