Liquidating distribution reit katt williams internet dating part 1
Shareholder approval was given at the annual meeting on August 4.
On November 6 a press release was issued announcing 3rd quarter results.
When the first management estimates of liquidation distributions were made in the Fall of 2014, the shares popped to between and . Over the next 18 months the share price gradually receded, and if one waited until 30 to 75 days before the assets were put into the liquidating trust on Aug 5, 2016 this would have been the second best time to buy.
The discount to management’s conservative estimate of liquidation proceeds was between 15% and 20% during that period.
After this distribution, shares traded around .70, gradually increasing to .14 over the month of July, still a significant discount to estimated liquidation proceeds, up to 18% early in the month.These results used liquidation accounting for the first time and per-common-share liquidation proceeds were estimated at .16, subsequently increased to .35 later that month.On the announcement, the share price traded up to the - range.It is thus only the potential damage to a Board member’s reputation that is at stake.This can, however, be a decisive factor, depending on who the Board members are.
Since then, estimates for liquidation proceeds have been included in each quarterly report but have not varied significantly.