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Diamond Hill Financial Trends Fund, Inc. Message Board

  • habitsowner habitsowner Jan 31, 2013 3:36 PM Flag

    Liquidation

    What is the consensus re the plan of liquidation? When we finally got a decent year-end distribution, we're hit with the fact that over half the share-holders seem to want the plan liquidated. I presume all of those got in at a different time than did I, since my basis is $13.61, I'm bound to have a loss. That's not what I need. I'm not happy, needless to say!

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    • According to the recent prospectus announcing the liquidation, the calculated per share value of the fund was 12.26 based on market value of holdings ($ 46 MM) and shares outstanding (3 plus MM) in early Jan. 2013 [i don't have the exact figures in front of me]. Also according to SEC filings on two separtae occasions in early Jan. , the largest shareholder (25% or so ownership) continues to buy shares. I don't understand why the fund shares at 12.55 are selling for more than what the gross liquidation value is, before liq. expenses. Can anyone explian?