Ditto. Looks like Frederick Russell (ceased to be dir as of 6/2014) finished sale of shares. Curious to see what price he got for 387197 shares. I guess must be 1.77, but wonder who scooped them up at below market prices. In any case, look for share price recovery now that the entire stake has been liquidated.
lost my "envelope", but I seem to recall the income needed to make that number was $209M, but I'm not quite as sure that the fourth quarter dividend was accounted for (or in the amount actually distributed)
what's going on? is expiration of october 2015 share issuance lock-up period on monday really driving company directors and executives to sell? could be since there haven't been any buys since mid-december when share price was $2 higher. yes, sba $245M vs. expected upper end of$270M is a bit of a disappointment, but absence of insider buys suggests that the lock-up is at least a contributing factor to current drop. still looking for a 2015 year-end NAV of around $14.50
may not have to wait a few years . . . maybe only a week or two. yesterday's aegn announced purchase should give ugsi the ammo needed for further expansion and could be interested in heoff -- especially if it is attracted by desal market opportunities that surround its southern cal. location. with present market cap of less than $20M and a float of only about 20M shares, heoff could be ready to TAKEoff in the not too distant future.
Sentiment: Strong Buy
Is market overestimating sensitivity of NAV to 3-day VWAP? Assuming max 27% payout of special dividend in cash (what the company is anticipating), and even if price falls over next two days s.t. 3-day VWAP is $10, year-end NAV estimated to still be above Friday's closing price. Sellers would seem to be leaving money on the table to the extent that stock's price has trended toward NAV in recent past.
On September 17, 2015, Company received written notice from NASDAQ notifying the Company that for the preceding 30 consecutive business days, the Company’s common stock did not maintain a minimum closing bid price of $1.00 per share (the “Minimum Bid Price Requirement”); the Company has a cure period of 180 calendar days, or until March 15, 2016, to regain compliance, which can be achieved automatically and without further action if the closing bid price of the Company’s stock is at or above $1.00 for a minimum of 10 consecutive business days at any time during such 180-day period, in which case NASDAQ will notify the Company of its compliance and the matter will be closed. If, however, the Company does not achieve compliance with the Minimum Bid Price Requirement by March 15, 2016, the Company may transfer to The NASDAQ Capital Market in order to receive an additional 180-day compliance period to comply. In order to be eligible for the transfer and additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all of the initial listing requirements for The NASDAQ Capital Market, other than the Minimum Bid Price Requirement, and must notify NASDAQ in writing of its intention to cure the deficiency during the second 180-day period.The Company is currently considering available options to resolve this listing deficiency and to regain compliance.