Hey Mr Black,I see by your portfolio that you are a very...

Hey Mr Black,

I see by your portfolio that you are a very conservative investor and a LIC follower, Like I ... although I do like a punt or three :)

I believe CTN's buy back at up to $1.01 was a good move...buying $1 + in assets for up to $1....... Creating shareholder value by cancelling the shares....( They may have bought back ...up to $1 ...but the average buy back price will have been much lower than this....and for the, price paid ..they get more than $1 in value ). I believe they were only buying back around 12 million shares (Roughly?) and they are raising around $30 mil @ 87c..... You can do the maths but nothing to worry about re poor management imo. They seem to have timed re entry back into the market about perfect and happy to hand them my 87c/share.

The SPP is a bonus for holders at a cheaper price to reward loyal holders...& raise capital for investment in what CTN deem acceptable wish the intent of growing value for all holders.SPP seems to be the norm for LIC's .

Next week ex-div may see weakness but CTN looking good to narrow the gap re SP & NTA as long as the economy holds up.

Anyone out there follow Micrequities?...A nice fund that invest in Microcaps not unlike CTN in a lot of ways ...Evovled at the right time & doing very well so far ....

http://www.microequities.com.au/index.html

VTP is another I hold with very good management imo....worth a look if you don't know em already?

Luck to ya's & i'm happy to hold.