Genesis Land Development Corp T.GDC

Rights Offering

[Malpeque2]

Seems like just a scheme for the insiders to buy more shares at a discounted price as they will take up any shares where people do not sell or exercise their rights.    Some people will not as they will forget,  position is too small to be meaningfull,  or in a jurisdiction where they can not validly exercise their rights.  

Good luck to all here!

[DanGood38]

I'm not sure how many shares are controlled by the insiders as it has got to be close to 2/3 or more. You have to be "buying on the dip" as the rights are given to existing shareholders so there is really no change in value. What the rights be trading for when they are listed separately will be interesting. Of course I prefer companies that can throw off their excess cash rather than

[Northforce13]

I dumped my shares.  Was extremely surprised and disappointed by this move from management.   This "rights offering" smashed the book value down significantly, such that on a per share basis it will take several years to recover.   Really wasn't happy about this.  Changed my perception of management in a large and negative way. 

[Malpeque2]

Well.......they certainly are NOT working for the average shareholder like You or Me.    THey are hoping like HELL you don't exercise your rights or sell them,   or more likely live in a jurisdiction where the exercise of your rights is not possible,  so that they can increase their pro-forma ownership of Genesis Land at a knock down price.   A price they

[pennydredful]

A  creeing  takeover  that  has  been  going  on  for  yesrs,