RE:RE:RE:RE:Analyst update March 22 Globe and Mail
Cheeky20 wrote: They are still trying to grow RV originations. i didn't see anything in the presentation deck or press release saying they sold off the entire RV business.
From Page 9 of the MD&A,
The Company has completed its review of strategic alternatives for its RV and Marine Finance business units, specifically Source One and IFG, which included a comprehensive assessment of a full range of alternatives to determine the best path forward to continue to drive growth and maximize value for shareholders. Following this process, the Company concluded that there is substantial opportunity in these businesses and the best path forward to maximize shareholder value is to continue to execute its business plan for RV and Marine Finance. Following the conclusion of the review of strategic alternatives, the Company will not pursue its previously announced Board approved corporate simplification plan, pursuant to which (i) ECN would seek approval to change its name to Triad Financial Services Corp., and (ii) ECN corporate overhead would be eliminated or transitioned into Triad. The Company continues to focus on its growth, operational improvement and cost reduction initiatives, as well as the transition to institutional flow funding in 2024.
I'm guessing investors hoping for a special dividend from the sale of ECN's RV and Marine division are bailing today.