A follow-up letter to Argo

Wexboy has sent a follow-up letter to Argo Group with a more focused and concrete proposal to create shareholder value. With the company trading significantly below net cash/investments per share management has a great opportunity to create value by buying back shares, or paying a special dividend. So this is certainly a proposal I fully support!

Disclosure

Long Argo Group

10 thoughts on “A follow-up letter to Argo

  1. pietje

    It looked a bit suspicious; website down and today massive volume traded. But probably a coincidence. Annual should be coming in May according to IR – you can still check the RNS for that. Curious to see what is happening with the Argo Real Estate Fund situation (more or less bankrupt). The provision for investment management services is no more I guess. Hopefully they’re not doing something stupid trying to save the fund.

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  2. pietje

    Despite the all the bad stuff (no cash left, not liquidating the stake in their own funds, no dividend, dubious real estate loans, no share buybacks) this still looks really cheap at current prices. I’m planning to add a bit soon.

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