Update on JYC:ASX Moorebank Property Sale

Since my first post here: (VIEW LINK). The Moorebank property has now been sold with settlement due end of September for $25mil. This is for more than the mkt cap when I first mentioned it. The board has sensibly decided to return capital to shareholders over a 3-year period via a 5c per year FF special dividend. Giving an est. FY16 FF yield of 9.3% a great return in a low yield market. The latest trading update states all corporate debt to be extinguished and the remaining kitchen and bed businesses were preforming well and expansion plans are being examined. My initial thesis was the market revaluing the stock on the property sale, which has happened, and the share price is currently $1.13 vs. 55c when first mentioned. The remaining businesses look in good shape with no debt and cash on hand to fund expansion. I don't have a view on where JYC can go thus happy to leave the story after a 105% gain in the share price in 6 months. Readers beware everyone gets 1 right or lucky eventually.