Equity investments are worth around the $12m
Cash in the structure will be about $14m
Tax liability of just over $9m
Leaving about 50c in assets (ex-tax)
The stock has historically traded at a discount to its substantial asset position so IMO anything over 50c is a bonus to holders.
It will go ex-div around 78c minimum but I am tipping it drops to mid-40's.
I have been in JRL since they listed and I was a seller cum div given the market was paying full value. MS no doubt has seen it in a similar way.
Equity investments are worth around the $12m Cash in the...
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