In essence I agree that NTA would seem to support the SP in spades. My comments suggesting that FOR may not wish to buy more is based on my own situation – I have too many TGA shares to buy more, but if I had a modest holding, and some money looking for a punt, I would consider getting a few more. However, TGA is still a punt – management could squander the NTA by generously rewarding themselves, and making silly decisions.
Relevant to the class action, out of curiosity I checked the recent court orders issued by Federal Court of Australia, New South Wales Registry. There is nothing startling, just follow-up document-access legalities that relate to the Court Order of 10 May 2018 in respect to subpoenas that TGA was authorised to issue to:
(a) National Australia Bank;
(b) Bendigo and Adelaide Bank Limited;
(c) Sri Ganesh Investments Pty Limited;
(d) Cash Stop Financial Services Pty Limited;
(e) Money3 Braches Pty Limited;
(f) St Vincent de Paul Society NSW; and
(g) King Quartet Pty Limited [a jewellery firm].
TGA Price at posting:
59.5¢ Sentiment: Hold Disclosure: Held