Enad Global 7 stock jumps after US activist investor pushes for sale. Which one of you Kronolords is "Alta Fox"? https://www.reuters.com/technology/...-us-activist-investor-pushes-sale-2023-05-22/ EG7 response: https://storage.mfn.se/18c89018-7d1...r-published-by-alta-fox-dated-may-22-2023.pdf
What a weird letter. "I think you should chop off 10% of the company to put in my bank account, I'm sure you'll be fine" and "you should sell while the market is undervaluing you" are just …like, bizarrely on the nose re: "ask for stupid crap, the worst they can say is no." Why in the world would that increase the stock price? Is this just a thing where because it's an open letter it doesn't violate some (EU version of the) SEC rules for price manipulation?
Anybody that owns voting stocks, sees this kind of thing in their voting agendas. It's nothing new. The stock owners have the ability to vote up or down any proposals and do their own research. What the "not so hidden" thing is, there are some companies that have more votes per share than others which puts proposals as a dead issue before they come up for a vote. It's noise.
What he is saying makes no sense to me. He says that current management is good, but current management almost always takes a big hit when a company is sold. Not good.
Alta Fox, is a firm founded by hedge fund veteran Connor Haley. They tried to take down Hasbro chairman with similar tactics because they wanted them to spin off its Wizards of the Coast unit, which publishes "Dungeons & Dragons" and "Magic: The Gathering". Even with a new chairman they were not successful. Fools.
EG7 Interim Report Q1 2023 Big Blue Bubble with Singing Monsters (a game bundle) now on rank 1 with 68% EBITDA in the game segment. To bad that the games are not listed separately. (Page 7) Shareholders are listed on Page 27.
Board direct Daybreak Studios to enhance cash flows and leverage shareholder value amidst market headwinds.