NAOS Small Cap Opportunities Company said its investee company BSA (ASX:BSA) has been verbally notified that it has not been selected as a preferred tenderer for the NBN field services contract, according to a Tuesday Australian bourse filing.
The company owns 31% of BSA and any material change to the investee's share price will impact the company's investment portfolio, the filing added.
Company shares rose 1% while BSA shares declined 6% in recent trade.
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