Do these guys have any particular stated policy for distributing proceeds to shareholders when they do eventually cash in an investment via an IPO/tradesale? I keep an eye on them due to the SOL involvement but they really have been disappointing since their IPO and while they are always given as an example of an LIC trading at a big discount to NTA that figure is also a little "loose" and based upon the valuation of directors rather than a set market price. They also pay big fees to the managers which you would have to say have yet to be justified. Every time I take another look at them they seem to have a couple of businesses almost ready to "cash in" however it either gets delayed or just doesn't happen. I was wondering whether they had ever stated an intention to reward the shareholders when one of their investments does pay off or will they just reinvest all the proceeds into other opportunities?
BTI Price at posting:
89.0¢ Sentiment: None Disclosure: Not Held
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