Hastings High Yield Fund (HHY)
Quick update on some transactions at HHY. I won't discuss much now as we are heading into reporting season and we will then have some more details on the balance sheet and progress of the wind-down.
- I-Med contracted to sell just above book value. This equates to 2.1c per share.
- At the last NTA update, NTA dropped 1.4c 'primarily' due to Hyne. As per my previous notes, Hyne was on the books at $5.5m or 5.3c per share. So a 1.4c or a 25% hit to book value surely indicates Hyne is sick.
Kristian
Disclosure: small position in HHY
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