Ann: Change of Director's Interest Notice, page-4

Well done to the poster who picked up that the TGP post results trading window had opened and that it was most likely the fund manager doing the heavy buying.

Management alignment is always huge for me so on the surface I admire their willingness to top up at the same time as fully participating in the capital raise.

You would have to think these guys understand the underlying portfolio better than anyone from dealing with it everyday.

I suppose the flipside of that view could be stubbornness in that they are so convinced they are right that they keep doubling down to avoid acknowledging a mistake.

One point of caution however is that TGP has more ways to make money out of TOT than we do due to the management fees (which have declined alongside the underlying portfolio value) and the possibility of more acquisition fees in the future whereas we're going to be relying on capital appreciation and dividends so we aren't exactly matching apples with apples.

Overall it's a positive I just wish another substantial shareholder would appear on the register to shake things up.