Ann: In Specie dividend and notice of change in C, page-3

re: Ann: CIW: In Specie dividend and notice o... My interpretation of this is as follows:

CIW has made a decent amount of money on MLC but is unable to sell the shares on the market as they are too illiquid to sell without moving the price dramatically.

More likely that the crew at CIW see this share as a drag on their performance after the supercharged returns it would have provided over the past few years.

In addition selling it would have tax implications, whereas a distribution to CIW unitholders may be better from a tax perspective.

In addition it would be hard to sell a large block in a company which already has two cornerstone shareholders.