Post by
colourama on May 11, 2023 7:56pm
Thoughts on news?
I think the splitting of CDN and PNG parts is a net positive for shareholders, as well as the capital return, so overall I am pleased. But what does it mean to spinoff the PNG part to shareholders as a private company?
Comment by
Possibleidiot01 on May 11, 2023 8:18pm
Fantastic question that somebody should ask tomorrow at 4 pm EST. It might provide some clarity such as what portion of the $38.2 million distribution is going to consist of a private company and how much is actual cash ? It seems we do get a chance to vote at a special meeting of the Shareholders to be held before the end of September 2023.
Comment by
SteveDean on May 11, 2023 8:39pm
The $38.2M distribution is all cash. Quoting from the latter part of the press release: Accordingly, the Corporation today has announced an intention to make a $38.2 million cash return of capital to shareholders and an intention to reorganize the legal entity structure. Steve