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$1.00 contango asset management limited

CGA down 8.8% to 73c, page-2

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AllFuelledUp

4,783 Posts.

148

26/10/17

07:26

Post #: 28202484
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Originally posted by YodaObi ↑

Maybe the recently resigned chairman of CTN selling his holding in CGA? (Does he have a holding?)
Maybe market waking up to fact that CGA has sold its (rented) crown jewels for maximum of $6.7 mill if certain conditions (that have not been made known to shareholders) are not met. (And maximum of $12.5 mill if certain unknown conditions are met).
Apart from the rented crown jewels, whats left in the biz is a limited collection of costume jewelry, as CQG and Switzer Dividend have fee sharing arrangements.
At 73c,the mkt cap of CGA is $35 mill. 5 times more than the maximum monies that CGA will collect if those unknown conditions are not met. No wonder the stock is sliding.
Interestingly, No one pushing up closing price on small volume, unlike recent days.
Expect, the outcome of the recently announced cost cutting exercise will be revealed. Will CGA shareholders be rewarded as costs come down? Or will those remaining pay themselves bonuses for running a tight ship?

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I read somewhere they don't do bonuses, only issue equity. With 5 year waiting period. Apparently that motivates portfolio managers.

Is there an icon showing me slapping my thigh laughing out loud at that?

CGA Price at posting: 73.0¢ Sentiment: None Disclosure: Not Held
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