It all makes perfect sense to me now.
Use CTN money to create a new portfolio, that allows 30% in unlisted investments, which then buys out the other 85% of CGA it doesn't own, gets its own $12m cash back. With CTN outside of CGA that is worth little, so they can pick up that CGA scrap for what, 20 cents a share? They now own that fund manager and get the management of the other LICs with it, using CTN shareholders money. Then take over those boards as well. 15 year management agreements
This would not surprise me to have been the plan from day 1. A complete take over by NAOS of CGA using CTN money
Boko Haram baby, Boko Haram
DYOR. Not suggesting anything improper has happened or is intended
Ann: Introduction to NAOS - Presentation Materials, page-5
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