Ann: Net Tangible Asset Backing, page-3

I'm done too. This has gone nowhere for too long. Dud manager now.

I am happy they are growing the Income Generator- $5m = about $50,000 in management fee. But lets look at this. CIE is well underwater from what we paid for it, and our Options are still out of the money, and now they do a placement less than a year after listing, and now I have to come up with $15k for the SPP or I'm further diluted, and the $1.00 strike price is now even further away. This is ridiculous.

They have $25m of CTN money in CIE, why didn't they sell those shares to the insto's and sophistocated investors, use that money to buy back CIE and lift the share price, and then do the placement at NTA? Or wait until the Options expire or are exercised, and then get to parity, and then raise some money? This in no way benefits me as a shareholder. Who on earth told them it was a good idea to raise money at a discount to NTA inside the first year of listing while shareholders have got Options ahead of them? Kind of rule #1 for an LIC but they don't see it.

DYOR