Quote Originally Posted by whatsup View Post
Mac , I thought that in a report somewhere that it was a fairly close call in this particular investment but with this ann they could now be out of the woods.
ENE traded at $1-56 prior to the halt. IFT look to be still well out of the money at that price -

From the 2008 IFT annual report -

Hold about 28% of ENE - 43m shares approx.
MV of the holding was $207.5m as at 31/3/07, $110.3m as at 31/3/08.
At $110.3m, this represented a "decline of $59.7m from cost".

Therefore cost to IFT was about $170m.
M/V of that holding at $1-56 = AUD67.2m approx, say NZD85m approx.

Have I got it wrong somewhere?