RE:First Quarter Results are outWell said.
I was going to focus on the
Update on Strategic Alternatives In November 2021 , McCoy announced the engagement of a financial advisor in connection with the Special Committee's review and analysis of strategic alternatives to bridge what the Corporation's Board of Directors saw as a gap between the Corporation's fair value and its market price. One such alternative considered was a potential sale of the business. The evaluation of this alternative did not result in an acceptable proposal, particularly in light of McCoy's strong balance sheet and improving fundamentals as evidenced by the financial and operating results outlined above. In its continuing evaluation of available strategic alternatives, the Corporation intends to pursue additional alternatives to unlock shareholder value, including the implementatirnon of a normal course issuer bid (NCIB), subject to Toronto Stock Exchange approval.
Nobody was willing to pay up for what the board thought of as a good price so we continue as a standalone company in an industry upturn with technological advantages. Not a bad place to be IMO.