return our cash!!!, page-9

mmmmmm this has got me a little angry/interested. Just sent following to company; will share the response with fellow HC posters:

Hi, I am a long term holder of CTN and watched its progress over the years with interest. I have been discussing it recently with a number of other holders and have the following queries:

1. The price has consistently traded at a significant discount to NTA. Recently this discount has been approximately 50%. Isnt it in the best interest of shareholders to wind up the company and return the cash to the owners?
(I consider the analogy to be that if I could get a 40-50% premium on the share price of all my other shareholdings it would be a no brainer that I would sell and do something else with the money.)

2. With regard to first point why is there a proposed capital raising that is by necessity at a significant discount to the NTA? In effect you are asking investors to invest a dollar and get between 60-70 cents of value!

3. I note that the latest NTA ASX release states, Since inception the investment portfolio has provided a compound return of 26.1%pa compared with the All Ordinaries Index of 11.0%.

Can you explain the basis of this figure of 26.1%? I note that a return of 26.1% equates to an increase of over 300% compounded over the life of the LIC. I cannot see how this return has been achieved when I look at the current NTA and allow for divs, raisings etc,

I look forward to your response.
Regards Graeme