High Arctic Energy Services Inc T.HWO

NCIB

[MiguelSanchez1]

If these guys put a moderate bid out there via NCIB the stock price would be 10-20% higher imho. They better have a plan or that cash is just eroding value

[Possibleidiot01]

Here's a thought . Market cap of 56 million with a strong working capital position of $40.6 million at September 30, 2020,  including a cash balance of $33.2 million , maybe there is not  a very active NCIB because 2 of the 6 directors are not in favour of it. Maybe Cyrus Capital Partners would like to privatize the company and then sell the company using very little of their own

[MiguelSanchez1]

very interesting thesis. Never thought of that myself. Gotta think they're running out of time though. Valuation is never gonna be better for it than 1h 2021 imho. If they're not planning that though, they're gonna also miss out on best chance for ncib

[Possibleidiot01]

it may simply be that an active NCIB would shrink the float and liquidity and give them a higher percentage (creeping takeover unless they sell into the NCIB) of a very illiquid stock after the share repurchases. Not sure how coherent that is.

[MiguelSanchez1]

You'd think they would be willing to play ball with that, but maybe they aren't and that is the reason no NCIB. I'm looking forward to earnings and I would like an answer