MCAN Mortgage Corp T.MKP

OMO

[Footlong1]

I don't get it. Why would management change their strategy for raising money? The previous capital injections were done by a way of rights offerings to current shareholders and they were always oversubscribed. It was a way of rewarding existing shareholders and allowed them to participate in the share dilution so they remain whole. I wonder if the new management has a cozy relationship with the underwriters and wanted to pay them fees,  or perhaps some of the large institutional shareholders want a bigger piece of the pie and this was a cheap, easy way to get it. Either way, a greasy move.

[shorterm]

Moves that make you go Hmmmmm! 

[shorterm]

Moves that make you go Hmmmm!

[JayBanks]

  I fully agree. I'm no longer a happy investor here with the moves Don is making. Every move announced recently is making me cringe.

[Footlong1]

It's too bad. This company was a steady little jem that paid 7-10%/year, provided a little capital appreciation, flew under the radar of Bay Street Big boys & analysts, and offered a great way for shareholders to participate in the growth. It looks like the new management wants to change that and could care less about its existing shareholders. The writing is on the wall, I am getting out

[Northforce13]

Didn't management change during the past several years?  I seem to recall some long time CEO retiring some time ago.  The way MKP used to raise capital was the right, classy, way to do it.  I've never been a fan, to put it mildly, of the common practice whereby companies undercut their existing share holders by offering shares at a price lower than current market price

[Northforce13]

Ah, just read the other posts.  Something about "Don" changing the way things are run.  Actions like this indicate a self centered dont care about share holders empire building management.   R.I.P. the MKP of old.  I have owned off and on over a decade.  This is a big negative to me, I might never buy back in. GLTA

[theinvestor22]

MKP is growing up.  I'm totally okay with it.

[JayBanks]

This has been one of the very few companies that I've seen do 'Shareholder rights Offerings' which at first I didn't fully understand, but once I went through the first one, I loved it. I've participated in all 4, over subscribed in the last 2 & and purchased extra rights off the market in the 1st one because I didn't understand how over subscription worked. I feel more

[Northforce13]

I agree with everything you said.   Management has changed and become "darker".  For a very long time this was run with what seemed like a very high degree of integrity and fairness and right/wrong.  Now it has become like almost all other companies.