I didn’t wish for some flying monkey to turn up on Hot Copper to argue the requisitioning camp’s case, rather I was just surprised that one hadn’t appeared. But then you provided a cogent explanation for why they would keep schtum. The less fuss there was, the smaller would be the voter turnout, which with whatever collection of votes that they have already corralled, would favour the requisitioners’ camp.
Literally, the moment before I opened your post, I had just thrown Mr Roddan’s article into the corner in disgust. Momentarily, I had thought about posting about the article but I decided against giving any oxygen to what appears to me to be, at best, an indifferent piece of journalism.
Inter alia, I noted the ventriloquial whinging about the multi-manager model. What is the point of having an external investment manager model, if you are going to tie yourself exclusively to a single manager? It would have been reasonable to have some sort of arrangement in the interim to maximise the sale price in the spinoff of the investment manager. Within the terms of whatever is actually in the sainted Investment Management Agreement, it presumably offered CGA some sort of a base to build its business from, even if it was only some exit hurdles, (but apparently, it doesn’t provide an iron rice bowl, which is maybe what CGA thought it had, or perhaps what the CGA prospectus let other people think it had).
Anyway, surely the ultimate advantage of an external manager model for CTN is that CTN could pick and choose managers, and by spreading the funds around to multiple managers, thereby ease the problem of the limited investment capacity of individual microcap stocks.
Arrgh ! You got me started again.
As you pointed out, I will probably be able to tell the outcome of the EGM on Monday by watching CGA’s share price. I am not confident the white hats are going to win this one.
Cheers These are my opinions only. Nothing that I have written here should be construed as disparagement of any of the parties or entities involved. For all I know, all of the parties and entities may be completely convinced of the correctness of their actions and be acting from the highest possible motives with all due skill and care in accord with their various responsibilities and obligations. Any figures and facts are mentioned in good faith but I accept no responsibility for their accuracy.
CTN Price at posting:
$1.00 Sentiment: None Disclosure: Held
(20min delay)
