Sell @ $0.102. No more left. Yet another huge losses, my follies of '07 & '08.
Should have cut it when they started to reduce the dividends and then ceased altogether. For the past couple of years, they'd been busy selling assets (listed Property Trusts) at fire-sale price (due to bank – lenders pressure) and now they are left with mostly unlisted Property Trusts (still trying to sell due to bank imposed repayment schedule).
Although NTA = A$0.30 for FY10 is still at a good premium, I see it dropping every year as they need to pay expenses and the valuation may not be very accurate (as unlisted Property Funds are illiquid and hard to liquidate). At ASX, last done price is A$0.083, also a premium. But, not worth the extra effort for me to continue monitoring to get a better price as the absolute amount is not that large. Another good lesson learnt (I hope). 🙁