re: Ann: TSE: TSI Fund Capital Structure Revi... Understand holders' focus on entitlements, but seems to me market should focus on the dreadful job of management.
Need to hunt through detail to see Mt Millar is being sold at $30.5 million loss, which is described as "good value" and an "attractive valuation" in the presentation. If so, what does it say for its purchase 2 years ago, as the major part of the wind portfolio.
That deal, which also saw parent (not TSI) pick up wind development portfolio for ONLY $10 million, goes to the heart of why these johny come lately structures are no longer flavour of the month.
Continuing to pay parent $6.2 million per year for the privilege? Not with my money!
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