Util Share Price (UTL)

Well that's improved the SP. I've been trying to buy shares through HL since 8 am, but no joy. Can sell my entire holding for over 170p though!

Oh dear, Resimac fell about 10% to A$ 1.05 yesterday building on a recent downtrend, I don't know why. As this will affect the NAV here significantly I have speedily got fully out again at a small loss. It looks like I am not the only one selling today with no buyers apparent.

OK, I'm back in modestly as NAV seems to be improving now 263.33. Of course if no one buys in here the discount will just increase. Company share buybacks looks like a forlorn hope.

Some ghastly looking falls in portfolio companies in May revealed in the monthly factsheet. Also revealed that UIL and others are going to take over Somers, I don't know if that is a good move or not given the existing relationship between the companies. In the circumstances I am now fully out, as there appears to be absolutely no buyers around I can't see the share price rising, at least it hasn't fallen with the market over the last few days as aside from me there are almost no sellers recently either.

NAV for 10/6 down to 287p and Resimac fallen a further 7.25% today in Australia so I expect a lower NAV to be reported tomorrow here. It is looking like UIL could manage to have closed the discount to NAV here soon to near the target of 20% not through any of their own efforts but through the poor recent performance of the fund.