Tetragon (again)
The comment about Tetragon in the latest ITN rang bells with me. I hold Tetragon shares through interactive investor who, on 23 December, told me that I had until 27 December to tell them if I wished to vote (but they are non-voting shares) at the AGM on 31 December. You will not be surprised to learn that I had other things to attend to on those dates so did not take part in the AGM.
If the management of a quoted company wanted to avoid contentious discussion at an AGM it would be hard to find more suitable timing than the day chosen by Tetragon. If anybody managed to attend the AGM it would be interesting to hear what happened.
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Tetragon have just announced a Tender Offer between $8 and $9.75 per share. The current price is $8.84 per share and the NAV is $29.52. Sellers may gain nothing on the market price. Those who stay in will find their NAV per share going up slightly and so will be holding at an even greater discount!