good thread; don't normally post but long term holder ctn & also...

good thread; don't normally post but long term holder ctn & also confused re:
1. logic of a spp in conjunction with buy back?
2. agree with ZMan "I dont see how a buy back could supress the share price, it should do the opposite" ... logic sais that extra buying should support price but have observed many times just the opposite eg SP struggles... can anyone explain this?

While I am talking CTN cannot help have a shot at the logic of LICs raising additional funds when they cannot get share price anywhere near the NTA (note 35% discount at end Nov but more typically 20-25%) .. effectively being asked to invest $1 for about 70 - 80c of value. I have little doubt that LIC raisings like this one are totally motivated by the additional fees they generate for Manager as they (almost unbelievably in this day) get reimbursed on a %age of funds .... us shareholders at the bottom of considerations like this.

Will be looking to exit this baby when(/if??) sp closes gap to NTA.