This post is a follow up to recent posts on RCU (the last one can be found here). Admittedly I was doubting myself a little in the last post, however we are now over the line with the redemption facility becoming official. Investors had until 14 March to send in their redemption requests. The redemption price is expected to be A56.85c.
This is a very good outcome for a few months work. After reviewing my previous notes (the first post can be found here), the investment case has panned out, however the major shareholder did throw a spanner in the works by trying to turn RCU from a cash-box into a listed investment vehicle for other purposes. While I still believe the downside was low, this scenario could have tied our money up for longer than expected and/or we would not have made the money as originally expected. Even nice simple situations can have events thrown at them.
Kristian
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