Ann: Assignment of Contango MicroCap Limited mandate, page-4

HE thinks he has a few million cash - so the world is bright again. But revenues flow just dropped to under $3m pa, and Costs last qtr were over $2m per quarter The cash won't last too long at that rate - particularly if any more existing clients desert the ship!

Given the existing IMA had a review capacity at 3 years on performance ie in only 18 months - How come a "top investor" pays 6x gross Ann fees to buy the contract. Will the CTN shareholders allow their funds management to become a monopoly game between interested parties eg NAS funds hold almost 15% of CGA!
Or for once will they stand up for themselves?
DYOR