1 share traded, page-3

Utah Saints, took the following text from ARC (Major shareholder) presentation....

• ARC value the net assets in excess of $1.00 per unit – justified by returns on the ginning assets •ARC estimate the average sustainable dividend at a 50% payout from these assets is 3 cents per unit (average over medium term seasons) •ARC believe if the capital structure was entirely moved to a standard ASX structured company, the CCU units – converted to shares - would trade in a range of 60 - 80 cents •This is 87% - 146% premium to prevailing price from a simple change in capital structure •The grower control in the Rules (Constitution) is compressing value and restricting growth options, which are numerous and potentially value creating but need properly priced equity •We recognise the value and importance of cotton supply to the business equation and seek to maintain , sustain and further develop these grower relationships BUT…. •….We do believe changes to the Rules are required as a minimum to give greater certainty to capital unit holders


3 cents div sounds good to me and a structure change would be a bonus. Let's see what happens first.
Their is definately more upside and Louis Dreyfus' partnership will definately help Namoi becoming a more modern company. Louis Dreyfus wants also to go public....