RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:is this it? i have always been in thor's camp that a privatization was inevitable once there was no more opportunity to buyback shares. makes zero sense to pay to be public if can't profit from it. those fees over decade+ add up and these guys care about every last cent
holdco's got cashed up in spring by way of the ELF special an amount that would have done the trick and think big move into fall was in hopes of a corporate action but market just too frothy for duncan to bite, which is not unsurprising, so now the discount has widened back out somewhat (materially for EVT since sep q end)
the last reported position from the 2022 AIF, when factor in the 2023 SIB, puts HNR at 87% of ELF o/s potentially leaving room to buy 100k shares or so (one SIBs worth) before breaching 90% but
SIBs require liquidity opinions. i had argued, incorrectly, that they couldnt possibly get another one last go around. however the post 12m trading volumes must have fallen 90%+ from the prior 12m when looking at the last SIB so its liquidity opinion was borderline fraudulent imo. stand by my belief that getting another would be a challenge.
so that leaves only the NCIB. ytd 0 for ELF and only 2000 shares for EVT
method, can u elaborate on why going private offers "only negatives" for them?
it would save the family a tremendous sum PV'ed and offer more anonymity which they enjoy
the potential negatives are tax related and that is nothing more than speculation. not sure there would be any tax consequences at all should they go private