timhb / todha, page-17

I doubt todha will ever relist. Likely outcomes:

a) TIM fails to pay next payment due end of June. Trustee will liquidate property and proceeds distributed to holders

b) TIM makes payment. TODHA taken off market as unlisted fund.


note: There is $27mil of securities in the trust which rank behind bond holders. TODHA holders will be need to paid out in full before these holders will need to be paid out.

I am confident that TODHA holders will recieve 80-100c in the dollar given the asset backing of 160c