As a long standing holder I agree with all that you say. However my issue with the board is that in doing what they have done they have excluded, on more than one occasion, existing shareholders from participating in the CR process. As shareholders we are the owners of the business. Why we should be excluded in this way is beyond me. The reason trotted out each time is that to include shareholders in the process would increase costs/risks. Whether or not this is true is hard to say, but give me a large and loyal shareholder base over skittish instituitional and so called sophisticated investors any day of the week. I believe the former will care much more about realising the true long term value of the business rather than the latter.
CVN Price at posting:
31.8¢ Sentiment: Buy Disclosure: Held
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