I've made a tidy profit from RSE, but you don't really need to own it full-time. The share price won't move much until one of the public companies is taken over and the next RSE tender offer is announced.
Interesting news today about the wind down. The poison pill in RSE was always this "Relevant Termination Payment" of 20 times the quarterly management fee if the investment manager was fired. So now that the investment manager are themselves proposing the wind down, it seems pretty unfair that they still want to claim their Relevant Termination Payment. But I'm thinking that if they've at least reduced their fees to 1% from 1.5%, that's a saving for investors.
Thanks Oak. Looks like the ultimate cannibal stock. Have you come across any other stock that has reduced its share count like RSE including tender offer?
Delta, there's quite a number doing so - but none to the extent of RSE. The next best example is CGEO and after that IP Group. I'd also suggest to look at ESO which has only just begun buy backs but where cash and listed equals the market cap:
I've made a tidy profit from RSE, but you don't really need to own it full-time. The share price won't move much until one of the public companies is taken over and the next RSE tender offer is announced.
Interesting news today about the wind down. The poison pill in RSE was always this "Relevant Termination Payment" of 20 times the quarterly management fee if the investment manager was fired. So now that the investment manager are themselves proposing the wind down, it seems pretty unfair that they still want to claim their Relevant Termination Payment. But I'm thinking that if they've at least reduced their fees to 1% from 1.5%, that's a saving for investors.
Thanks Oak. Looks like the ultimate cannibal stock. Have you come across any other stock that has reduced its share count like RSE including tender offer?
Delta, there's quite a number doing so - but none to the extent of RSE. The next best example is CGEO and after that IP Group. I'd also suggest to look at ESO which has only just begun buy backs but where cash and listed equals the market cap:
https://theoakbloke.substack.com/i/148297792/cgeo
https://theoakbloke.substack.com/p/ipo-yeah
https://theoakbloke.substack.com/i/145405380/eso
Another one that another reader pointed out yesterday (but I've not looked at in depth yet) is TFG - Tetragon
Hope that helps
OB