Ann: Net Tangible Asset Backing, page-3

We are being played folks. The distortion of plus 7.4% in June to the revised - 23.9% after audit and the BS about the transaction warrants ASIC and ASX attention.
Such a massive change in value because of benefits in one (unannounced) and absent in the next announcement of the same data breaches the continuous disclosure rules IMO.
It raises questions of credibility of the previous announcements also.

Was this projected transaction in May figures? April figures? when the company thought originally that it had to have shareholder approval?
Yes we are down 3.3% for the month but now an unknown performance for June but a $1.022 after tax NTA for May so I say again; the disparity requires an investigation.
I did note that the June NTA report had no Stu comment about the market - unusual.
It stinks of manipulation and compliance failures.

I was particularly galled by: "subject to shareholder approval, the transaction will
proceed, and an increase in the Company’s NTA may reasonably be expected."
i.e. No specific assurance or level of 'benifit or loss' related to the supposed transaction.

IMO anyone falling for this 'blame ASX' BS or takes it as a truth is daft. This is an unadulterated fear campaign before the event IMO - A Trumpism

Also note the same codswallop was not in the HML NTA announcement of the same months and it had a positive month as it also did the previous month.

We have finally found out that ASX requires a vote and although we have had various changes to the general proposal of the transaction we have not seen the complete independent experts report yet as we have for HML - so there is a long way to go.

The desperation coupled with incompetence is starting to show that BHD's propping up Stu's dream of a trading house may be a really bad idea financially.
I do not believe the effect the absence of the transaction will have on the NTA - if it is even legal to express a past result with an estimate of future actions. Particularly, when it was an end of year NTA. I can understand that July might have a change to show possibilities, but find a change to annual data untenable.

If I am being treated as a moron or fodder for Stu's problems then Stu will have problems with my vote for all things going forward.
If ASX or ASIC do not sort it out then I will happily vote the company/management out of business.







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