Post by
woolwich on Dec 01, 2014 1:23pm
Huber holding
As of one year ago (October 31, 2013) Huber's Small Cap Value Fund held 563,400 Armtec shares, equal to 2.3% of Armtec's total shares in issue. The market value of that stake was then a little over $1.2 million which means that if Huber continued to hold those shares until now they have lost almost 90% of that value. In Huber's annual reports for both 2012 and 2013 they had to disclose that Armtec had eroded the fund's overall performance for both years. My guess is that Huber would have chosen to fall on its sword rather than continue with the Armtec stake, particularly as the fund's overall performance for the year to end-October 2014 would have shown a further significant erosion in Armtec value. Just my observation. In the meantime it would be especially interesting to know if any other investor (private or institutional) has taken a substantial stake in this company.
Comment by
2Greying on Dec 01, 2014 2:16pm
Type in major shareholders of Armtec for a google search...go to the morningstar site and under institutions it shows over 4 million in shares (20%).