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NZRPT's tax problems far from solved
Tuesday 4th of November 2003
Fueling investor ire are the low distribution, only 3 cents a unit in the latest year, the huge gap between prices available on two "grey" share markets and net asset backing and management’s inability to deliver returns closer to net asset backing through land sales because of tax problems.Chairman Sir Selwyn Cushing told the meeting the trust’s net asset backing per unit rose from $1.91 to...
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