Rural Equities Limited (REL)

[1leon]

It is in fact depressing the realty that REL shares cannot be disposed of by shareholders except at an enormous discount to asset backing- 24.5% discount to $5.57 according to last annual report of 30 June. And the buy back will continue the creep of the Cushing interests ever closer to extinguishing small shareholders . I see it was in March 2013 that I pointed out that Cushings could advance to 2/3 ownership in 3 years if buy backs continued. Yet again I see little prospect for shareholders other than that Cushings will ultimately take out the whole company at a gross discount to value. It a pity Unlisted has been allowed to survive. This company as a listed public company would be a totally different story and future.
QUOTE=percy;595652]Yesterday's announcement that REL will be buying back [and cancelling] 1,515,677 [4.23%] shares at $4.20 from The Rotorua Energy Charitable Trust on the 20th January is positive for shareholders, as it will improve NTA, and give us a bit bigger slice of the cake,or in this case, of the farms.[/QUOTE]