OTCPK:GMNFF - Post by User
Comment by
Malpeque2on Aug 31, 2022 8:25am
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Post# 34931776
RE:GMN has bought back 13 m shares since 2012
RE:GMN has bought back 13 m shares since 2012There are of course diminishing returns to a buyback when the float not controlled by the two insiders is only 4 or 5 million shares. It's going to get harder and take longer to buyback any shares thru an issuer Bid as time goes on.
Nozzpack, I would say to you lets not run away from Canada and the TSX and go use the $80M or so US in Cash to buy a stake in Aimia. Traded on the TSX. You think Felipe Tan is a better investor than the Mittleman's? Then let him get at least 5% and call a special meeting and have these people voted out. The Mittleman's control very few shares, their track record is not great, and nobody is going to vote for them if given a choice of a new managment team. Worst case is they dividend out a large sum, take it private, or do a Substantial Issuer Bid, and we all make some $$ on those shares plus the accreation of value for Gobimin stake in Aimia.
Contact this Felipe Tan and see if you can get him to do it? ReInvest the $$ in Aimia for a 5% or more stake. THey are just like Gobimin, trading at a big discount to the Cash and the Net-Net, current assets less ALL liabilities. The discount is larger here, but the Market Cap and Free Float are a nice fit for Gobimin to get a "control" stake.
Then your Mr. Tan guy who you think is a good investor would have control of like $600M Canandian in Cash and Securities. Then we can go play for Africa Oil......The whole show!