Noranda Income Fund Unit NNDIF

RE:WTF is wrong here?

[Northforce13]

You would need someone to come along with >=5% ownership of the share to enact change.

It wouldn't be very complicated, with that amount of shares you can call a shareholder vote on different subjects. 

Like calling a vote on selling the plant to whoever might want to buy it... and distributing the funds from sale and working capital to share holders.  Boom > $5 per share right there.

It really is that easy.  

Unfortunately, the only big shareholder that owns >5% is a passive sheep investor (Extract Capital) that just goes along with management while Glencore screws everyone over.  

On the second before last conference call, I think he asked a pretty lame question like "what are the independant trustees doing to improve governance of the fund" or some textbook garbage.  I don't think he gets that that is his job and they aren't going to do it for him.  They will just continue doing everything they can to ensure POOR governance of the fund by enabling Glencore to suck all the company's profits out.  

We have to wait until this guy gets discouraged, goes away and sells his shares, and then an activist investor with sufficent capital, a brain and a pair of balls comes along to crystalize the value.