TWC Enterprises Ltd T.TWC

I'm dripping

[carbide]

If Paros likes the stock, I'll take some more too.

Apparently there are three types of DRIPs.  Broker-operated, company-operated, and third party-operated.  The broker-operated buy on the open market with cash received from the company.  The latter two subscribe for shares from treasury, so the company keeps the cash.  Will have to confirm with brokers that the latter is specified, so the company keeps the cash and brokers are not buying for clients all at once in an illiquid security.

The dividends are still taxable.  What's the point of this anyway, just to dilute shareholders slowly?

Maybe they can find a better use for the money.  We did pretty well on the private equity funds in the USA.  Looks like they invested $11.3m and got a return of capital of $16.1m within a year, with a residual equity valued at $7.5m.  A double with a less than 1-year payback, if I read the accounts correctly.

Hopefully no more investments like Highland Gate, which has been an unmitigated disaster.

No blocks coming up for sale from the institutional/fund shareholders?  Maybe they should do a SIB for a few million.  What's stopping them?

[undervalue]

A very astute shareholder has said that with HG, a lot of service costs were applied to phase one.  Creating high costs and showing the bleak numbers. The couple of sales in the last q showed significant profit. As always,  it makes little sense. HG may turn out OK. I believe the correct read is that the company will issue from treasury for the drip. This is another run by Rai to up his

[Malpeque2]

With a little luck Rai is going to meet his maker and we will still be shareholders here in the not to distant future.  What stops RAi from doing a SIB is the guy is a former accountant,   he is worried about sharing nickels and dimes with his minority shareholders.  Hence the skinny  dividends and the measly share buyback across all of Rai's world!