From their 4 VLCC addition announcement: "The current quarter has been very stable with owners resolute in their discipline and freight rates being consistently strong throughout the quarter. Robust demand, growing oil supply and increased ton miles during the quarter underpin our confidence that the tanker market is at the start of a sustained multiyear recovery. The market remains dynamic with a number of new trading routes being established over the past year. We look forward to updating the market further when Euronav announces its Q2 earnings on July 30th."
I looked back and there was no tender. My shares was exchanged at the rate of $10/ea whether I wanted them to be or not. That's the based of the suit/settlement. Btw, that $2.50 is more like $1.50 after the lawyers take their cut... Better than nada!
Woodbridge or its affiliates will pay $36.5 million, which amounts to approximately $2.50 per share, into a “Settlement Fund” for the benefit of former shareholders of Bluegreen whose shares were acquired in connection with the Merger (the “Class”).
Insider selling is important and shows their faith in this minimal-growth company. A company that, we know, has trouble putting a significant number on the bottom line. Key Execs get 5% of the quarterly PRE-tax earnings PLUS salary PLUS options so it's doubtful they sold 'cause they "needed the cash."
I'm very surprised this dog isn't under 2 again...