Trojan's Net tangible asset backing announcement yesterday hits out at the board of CMI for not paying A Class dividends. It also states that TJn will take action even legal to get out at a reasonable price.
What they didn't mention is that they have actually started selling down their A Class holdings. Last update they held 3,088,000 A Class, this update 3,028,000 a 60,000 reduction. Though only small I suggest that this overhang will place pressure on the A Class price.
Otherwise I am thinking that TJN will be negotiating with the Board for another buy back.
I think the next few weeks will be interesting.
trojan hits out at cmi board
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$3.07 |
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Mkt cap ! $89.01M | |||
| Open | High | Low | Value | Volume |
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|---|---|---|
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