RE:RE:Management CompensationTradeTracer wrote: Interesting information to see, and something to look into.
Taiga did pay a dividend in 2021, albeit a special dividend of .27/share, should still be recognized as it would be a 10% yield today.
A little disappointing that 2022 didn't have another special dividend, nor has their buyback been utilized. Like you say, spending $94,000 towards the NCIB when you have $94 million in cash seems a bit like dropping the ball...
Just some food for thought ->
Remaining shares to complete the NCIB: 5, 372, 806 shares
Todays share price: $2.70
Total cost: $14, 506, 576
Total cost @ $3.50/sh: $18, 804, 821
Total cost @ $4.25/sh: $22, 834, 425
Total cost @ $6.00/sh: $32, 236, 836
No debt, less than 0.5 year of earnings at a 122% premium... seems wild
I can only think of 2 reasons :
Are they planning a takeover?
or
Is Avarga's 71% ownership the issue?
I don't know the legalities of a NCIB when an insider owns a substantial amount of a company, but surely there could be a way to work with them to keep their 71% ownership while also making it a fair market for all
Even going the conservative route, take the $94 million and spread it out over some 1 yr 4% GIC rates and that would give you enough to buy back 626,000 shares @ $6...