"Confidential" Catalyst AGMFor those who may not know, Catalyst Capital a distressed assets private investment banker who are often called Vulture Capitalists and completely controls both FEC and CGX. It is they, who have decided to make both companies to go dark as far a information news releases, presentations or granting interviews with finanicial media etc. It has been that way for over a year now and both stocks have been greatly affected price wise with no attempt what so ever to promote either. It is also Catalyst who is calling the shots regarding the sale of all or parts of FEC. They control the boards of both companies and Catalyst's Managing partner is Gab de Alba who is chairman of FEC and cc-chairman of CGX.
Since Catalyst is a private investment banker and their funds are closed limited partnerships with limited life spans. There is usually no transparancy. Somehow the 2016 AGM presentation clearly marked Confidential slipped through to the Internet. It was discussed with their private investors in a 2 day presentaion in April of 2017.
This is likely only for those who hold a big hand in FEC as it is 52 pages of very detailed info of how they operate. It is just my opinion, but it appears when they list their holdings, they are being overvalued as far as current value. Kinda Trump like. However, since their main investors are pension funds, churches and such, they do show a history of monetizing their holdings and paying out dividends and other distributions. I am hoping they do that with FEC if there is not a complete sale of the company.
There is only slight mention of PRE (Frontera prior to symbol change) here and fund 5 which holds most if not all of FEC but they did raise in excess of $1.5Bil for their fund 5. So, they have has some success though 2016 as many of the same investors from earlier closed out funds, reinvested in their newer funds.
Callidus Capital seems to be a major topic in this meeting as it was formed by Catalyst founder Newton Glassman as part of the Catalyst portfolio to make high risk loans and it was taken public through an IPO at $14 and rose, but quickly faded due to major loan defaults and was taken private for $.85. Catalyst Investors help fund and lost big on Callidus.
Anyway, here is the Catalyst AGM presented in 2017 and being so detailed and long, may not be, but for the serious or large stake investor.
ANNUAL MEETING THE CATALYST CAPITAL GROUP INC. (calliduscapitallitigation.com)