Temple Hotels TMPHF

Arni Thorsteinson

[micromike]

Question to anybody in the know.

I see that Arni unloaded lots of share in the 70 cent range. Was he forced to or did he just unload to get out of TPH? Thinking that they were toast considering that the pirce of oil is in the toilet.


MM

[DanielDarden123]

No reason why he can't continue to hold unless his involvement was a condition of a margin agreement or the like. This was before the fire so rather scary as to what is under the covers. He has been investing in Fort Mac for 20 years. What does he see?

[Matlock]

Kind of an odd question.... Arni Thornsteinson's big loss was losing the asset management agreement ($2.7 million revenue annually).  500,000 shares at 70 cents was peanuts compared to that. Two thoughts: 1) He could just be harvesting a capital loss 2) He's likely going to redeploy that capital in Shelter, or perhaps Lanesborough.  If I'm a CEO recently booted from a

[DanielDarden123]

All valid points. I will elaborate on the "odd question" to give it some context. Typically companies prevent creeping takeovers by adopting a Shareholder Rights Plan which protect minority holders by forcing the acquirer to pay a premium price for the entire company. Clearly no Plan was put in place despite overwhelming evidence that MRC was acquiring large blocks and approaching the 20

[Matlock]

... your question was originally about Thornsteinson selling post-takeover, which I answered.   Suddenly we're now on to shareholder rights plans..... which in and of themselves, are controversial and have the potential to diminish shareholder value on their own.  Recent example from elsewhere in my portfolio: AGT Foods introduced a shareholder rights plan just last week

[DanielDarden123]

All boards have a duty to act in the best interests of holders long term, as opposed to short term, regardless of the optics of individual holders.  The question remains. Why did the Board not even attempt to prevent a creeping takeover. They were all hand picked and endorsed by Arni. Strange? You decide. It's your money.