Oops - market closed with only one bidder for CGA at 65c. Brave soul.
Couple of important questions that need answers.
1) when was CGA informed by client that insto mandate was terminated or significantly reduced? It is a material loss - no two ways about it. Did CGA inform the market promptly? If not, those shareholders who bought recently can sue. Class action and all that. But then again, whats the point? Can CGA pay if those select shareholders win the suit?
2) "The Company is also reviewing its cost structure to ensure an efficient operating platform" - performance is poor. CGA fundies and analysts already under pressure. Now the pressure dial is turning up again. Effect on team and performance cannot be good?
CGA had 2 insto mandates, a large cap with Maritime Super, and a Small cap mandate. so which one lost? If instos lost faith in CGA, whats gonna happen next?
CGA Price at posting:
$1.00 Sentiment: None Disclosure: Not Held
