a LIC is more than the manager ,it is also the board's capability. This board fired OC (31.2% year to June) and then allowed George B to decide to sell the management rights to Naos, without an open tender. the reality was the rights were worthless and better managers could have been hired by a competent board at significantly lower fees. These same directors are now refusing to buyback at what we all agree is a large discount. They cannot in anyway be acting in the best interests of shareholders. Under their watch the stock has fallen from $1.10 to todays pitiful price. When the small cap index is flying. The cost to shareholders is $10 's of millions. they have to GO!
DYOR
Ann: Investment Report & NTA Update - June 2018, page-8
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47.5¢ |
Change
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Mkt cap ! $64.06M | |||
| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
|---|---|---|
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