cash back10 Feb 2010 14:43
The settlements are one thing but not the main thing. Sooner or later all of the parties will settle one way or another, and everyone understands that the longer the court cases continue the legal costs will eat up any returns. What concerns me and what was always in my mind, and i want to know investors view, was why Altima sold heavily the day after the EGM at 17p if Baron is their puppet and all seemed to be under their control. Were they not happy with the vague company strategy announced at the AGM. Looking at the vote count they obviously voted for all of the resolutions and then sold out. Didn't they beleive in what they voted for? The other big institutions have sold as well Lloyds, Deutche, Ingalls, Seed investors etc. The company seems to have lost any serious following so no support for shareprice. Management doesn't seem capable of generating any asset or operational value in the company either so this points to a cash-back strategy for the remaining investors. Unless they publish preliminary financials for 2009 early no-one will know how much or little cash is left until April. Investor patience probably won't last that long. If Baron promised to return cash he had better do it sooner than later.