contango capital partners whats their interest, page-8

I agree that the potential dilution from the Top Up facility is a drag on the SP, I was expecting an announcement yesterday on the allocation under this facility. I hope the reason its delayed is that they plan to advise the new NTA so we can see the extent of the dilution.
If that does not brigde the gap then perhaps a VTP scenario needs to be thought through.
Regarding thier recent investment into CCQ, whilst its true that their discount is over 50% a lot of that is deferred tax assets which I can't see a lot of value in. And yes the 49% interest in the management fees of CTN is a way to keep the consolidated costs down, its hard to see if thats really the case given its an associate investment and we cannot see its cost structure. The wages it pays out of that entity to possibly the same CTN/CCQ management team and directors cannot be ascertained......