I am positive about the assets of MAP. What I am not prepared to do is listen to MQG spin on how this deal works. I think thats the issue. I am not bringing into question the NAV just that everything happening to the NAV seems to push it lower. Remember all the people in REITS and after the issue of shares and this and that the NAV just keeps on coming down. If you ask me immediately after this deal the NAV drops. Why if I am sitting on so much cash would I do this? The assumption that they are taking a risk with you by accepting units is what I dont accept. The distribution could fall to 12c before they would earn less than they earn this year in 2009. No one seems to believe that it will get there so its a no risk only benefit move for MQG.
I am not saying that Map is only worth 2.30 the market is saying that. I am also not saying that its 4.70 it cannot be as MQG stole some of that today.
I want to get shareholders to stopp being apathetic when deals like this get proposed and vote against it and when a director is voted on nominated by MQG to consider what they have added to your map investment and I will vote NO.
MAP Price at posting:
$2.55 Sentiment: None Disclosure: Held
