Yep, ixr screwed vmm by selling the 2.4m shares in sep and Oct last year (refer to ixr sep quarterly report). Vmm's share price decoupled from mei around that point - it was 6.5× mei bafore that - and hasn't really recovered since then - it is now only 3.9×, and this has caused an increase in vmms cost of capital due to a cap raise at a low price. Great way to treat a jv partner.
IXR Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
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