Earlier this year I bought a small position in Tejoori. After selling substantially all its assets the company consists solely of cash, and cash like instruments. My thesis at the time was that the Tejoori would eventually fully liquidate, and distribute the cash to shareholders. Since then nothing has really happened, and the company has remained noncommittal in distributing the cash. In the latest interim report the same language as in the previous report was used that promised that there is the intention “to return to shareholders a certain proportion of the cash generated from the sale of the Arjan Plots”.
Locus Capital has decided that things have taken long enough, and is trying to start an activist campaign with the intention to get management to return all shareholder capital. In order to get this kick-started they have created a Google Sheet to collect the information of fellow shareholders who have a similar goal. I suggest you fill it out here if you are a shareholder.
Author is long Tejoori
Thanks for sharing that!
How do you think about the chances of the campaign and the time frame?
No idea really.
why to return cash if u can just use all and burn it?
According to the Sharia law giving money to sinners is a sin
And this company devoted to Sharia law and sharia law is in Line with Jihad