internalisation of management, page-3

Joewolf,

MQG dont get to vote with their 22% holding.

In addition to management fees, there have been very large performance fees paid in the past too.

MAp has the cash to pay MQG in cash today.

This is a vote in MAp by MQG in that they choose to take their stake in equity and not cash.

Today, the cash would benefit them more. But they know over the next 18 months, the shares will double.

I think its a good deal.

I hold loads of MAp too.....and not selling.

Kiril.

I hold.