Any extra cash should be directed in to the buy back they announced. I havent seen any announcement of shares bought back and cancelled. There have been no div announcements either - even though the mezzanine finance investment was supposed to be about generating cashflow to support a div.
I just cant see a way out for this stock. The monthly NTA announcements just include commentary on the macro environment - forget that, we can read that in the news - how about detailed commentary on our investments and and the companies strategy. Justify why as an investor we should accept this management strategy and performance. Dont just spill out dribble on euro issues and currency, as shareholders, we own this company, treat us like owners and give us the true story from the coal face - thats what we pay you for. Negative or Positive - information flow is the key to happy shareholders, so that we can understand the situation. Otherwise where i sit, all we can see is management more worried about fee revenue than the best interest of shareholders.
MEF Price at posting:
63.0¢ Sentiment: Hold Disclosure: Held
