Ann: Director Resignation, page-27

Dumas

If I understand your CGA post correctly, you seem to be suggesting that the interests in CGA may be looking for an escape hatch with the idea of convincing the directors of CTN to use CTN funds to buy back CGA.

If that occurred at about the current CGA price, that might return the founding shareholders much of their original stake and thereby save their bacon, but it would be a questionable investment for CTN and questionable use of CTN shareholders' funds.

After what happened back in March this year, I realize that just about anything is possible with this circus.

However, where would Wilson Asset Management fit in that scenario?
According to the announcement back in August, they presently hold just over 5% of CTN.
Would they be relaxed about their funds being used to buy back the clunker that CGA seems to be?
Wouldn't it be better for Wilson to use their block of votes to get CTN to ditch CGA as investment manager and then appoint whoever Wilson would prefer as manager or alternatively, to merge CTN with one of their own funds?

I wouldn't touch CGA with someone else's money and nor should CTN directors.
So even in respect to my much reduced holding in CTN, I would be very disappointed if CTN directors proposed to buy back CGA.
Even if it was for a peppercorn price, why should CTN buy that particular manager given what has gone on this year and their investment performance.

The present directors of CTN should carefully consider their responsibilities and potential liabilities.

cheers