RE:fees?account15 wrote:
anybody in management to get severance? In few months we will have election. Maybe they need to wake up. Re mcna they done research before by independent company showing value and now what ...
reading the press release there must be a golden parachute along with a overly generous severance for management
"Over the last 120 days,Telesta’s management team and Board of Directors have carefully evaluated multiple strategic options, in parallel with their efforts to determine the ongoing value of the MCNA program and to optimize the sales proceeds from the disposition of non-core assets.
While Telesta will continue to evaluate all of its strategic options, Telesta’s Board of Directors has determined that selling Telesta for its net cash and public listing or liquidating the company for the distributable cash,
does not provide Telesta’s shareholders with a return that is meaningfully different from current price levels, after accounting for related fees, severances and uncertainty concerning the value to be received from non-monetized assets."
in a nutshell, as of the 2nd, after all expenses (managements piece included) and sale of all assets, there will only be a net of @ 8 cents /share left for shareholders.