I get they want to grow FUM to give more to charities, but seriously every time they do this, the share price gets smashed. Do they view the shareholders as biggest priority or the charities (sounds harsh, but i'm just noting a point)? They should clearly stipulate this.
There may be a point to say, well mickmate you're able to buy shares at a discount, what's the issue - but the counter point is that - doesn't this activity not just smash the share price? under what scenario would you want to do that...
I think my time invested in LICs are seriously numbered. Will go back to unit trust structures as soon as CHESS 10 is finished and mFunds allow you to invest as an individual.
I note for all punters that Geoff Wilson wants to grow this LIC to 10x this size - so expect a whole lot of these to happen.
Ann: Share Purchase Plan Details, page-2
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