A reverse listing avoiding all the associated fees and red tape of floating the manger;
A heavily skewed ownership interest in the favour of Regal Holders;
Obtaining the FUM of VGI which is predominantly held captive in closed funds, enjoying guaranteed fees and capital protection;
Overwhelming bargaining power, given Rob was essentially in the midst of shareholder revolt. It was either merge, or wind up;
Seemingly instant liquidity for Regal holders to sell, which is why the share price has collapsed;
The fact trying to float a listed fund manager is tantamount to trying to list a coal miner in the current climate...
I could go on.
Just a few factors, but at the end of the day it's all a calculation of fee attracting FUM, and a desperate seller.
I dare say Rob's time in the funds management space is becoming less likely as time goes on. More so, if Regal want to maintain an image of outperformance.
RPL Price at posting:
$2.98 Sentiment: None Disclosure: Held
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