what price ex dividend?, page-8

Equity investments are worth around the $12m

Cash in the structure will be about $14m

Tax liability of just over $9m

Leaving about 50c in assets (ex-tax)

The stock has historically traded at a discount to its substantial asset position so IMO anything over 50c is a bonus to holders.

It will go ex-div around 78c minimum but I am tipping it drops to mid-40's.

I have been in JRL since they listed and I was a seller cum div given the market was paying full value. MS no doubt has seen it in a similar way.