keep an eye on, page-5

I looked at APD too Finch, but it had risen remarkably on very little strength. It seemed almost like a skyscraper made from bamboo. APD has nta of only 20c albeit no debt, but it did not convince me that it had real strength.

AEZ on the other hand with NTA of 33c as you said, should really be trading equal to if not above APD IMO.

I expect AEZ to be over 10c within a couple of weeks and there has been an increase in volume over the past few weeks, possibly people locking in positions. I half expect a sub holder announcement soon.

On sub holders, Orbis have taken almost an 18% stake so far and can only go another 2% without have to make a takeover offer, which wont happen. Also on that theme, my calcs show that 53% of all shares are held by sub holders, therefore only 47% can be churned by others.

In summary, good sub holders, excellent chance of being a 5 or more bagger here, I am holding very tight on this one, I even suspect it is better than valad...and that is saying something for me.