The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Finally, JP perhaps got bored of waiting for SK to deliver value and has decided to do something himself:
"Whilst the Company's geographic focus to-date has been PNG and Australia, this is now expected to rapidly broaden across other geographies including Brazil, where the Company has been actively screening industrial opportunities for over 12 months and has multiple potential transaction opportunities. The Company is uniquely positioned in Brazil given the Chairman's strong connectivity in country, fluency in Portuguese and deep understanding of the local business culture. The Company advises it is attending multiple project vendor meetings in Brazil the week of 27th of February and further announcements will be made following the conclusion of these engagements as required."
Anyone any good at interpreting resolutions 5, 6, and 7?
Resolution 5 - Issue/sell 580m shares?
Resolution 6 - Issue/sell another 580m shares?
Resolution 7 - Ability to buy 58m back as treasury shares or cancel them?
The only thing left to hold on to are that there are a number of shareholders on the register who must be feeling disgruntled and/or more in the know than I am. Yet why are they not selling or creating a fuss? Surely they will make a move at the AGM if they have not received assurances?
With your pessimistic outlook are you trying to encourage others to sell so your investment goes down to zero over time, or will you exercise your option to sell and put your money where your mouth is?
No point moaning every day if you do not have the courage to sell.