The 5-6 quarters of cash left is the status of the manager CGA. CGA sold Contango micro cap to Naos (the management rights which should have accrued to Contango micro Cap shareholders via reduced fees) . Lanyon are now wanting to gain the management rights of CIE without paying for them . CIE shareholders would have to believe lanyon could do a better job than the current manager at CIE. Lanyon seem to be fourth quartile compared to managers in the morningstar funds survey so not to sure they have the cred to win this. Switzer and Taylor Collison clients will decide this. Especially if the portfolio services of these two entities control client shareholder voting. DYOR
CIE Price at posting:
64.0¢ Sentiment: None Disclosure: Held
