NSC 1.15% 43.0¢ naos small cap opportunities company limited

recovery?, page-8

  1. 4,783 Posts.
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    They listed with less than 30 million shares, and have what....150million now?

    So clearly they have issued shares. These would probably have been done at deep discount to NTA- so I doubt you can just track NTA, you have to adjust it for each new issue.

    DRP is @ 3% discount to NTA, so thats more dilution. For the shareolder its okay if you participate, but for measuring performance you have to add back. Wilson has added SO many new shares the last few years so I think looking at his NTA is almost pointless.
 
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