RE:RE:state of affairsGrowthnvalue wrote: I've lost hope in Mithaq and don't have any confidence in them saving Aimia shareholders. What they've done with PLCE is baffling. I suspect that they tripped the debt convenants by accident when they increased their stake so rapidly in the stock. They could have walked away with a massive gain, assuming they weren't restricted for some odd reason early on. Instead they now have close to $300 million in the company via equity at a cost of about nearly 3x the current price and unfavorable (to Mithaq) loans. So many great values available in public markets, and they went after a dying/cash burning retailer of low cost children's clothing with zero moat around its business. At this juncture, the private placement investors might be the lesser evil. They're not responsible for this debacle, and there's a better chance of a competent new CEO emerging from their ranks compared to Mithaq. However, it's concerning that Q1 earnings are next week and there's still no announcement regarding an AGM. What's going on here?
I would assume they are betting on Q1 results / strategy / carrot dangle will incline shareholders to give them one more chance when they finally schedule the meeting. Or they're actively engaged with Mithaq and will be willingly reconstituting the board giving them a couple of seats, thereby saving some of their own.