Been there before, but still does not make an easy look especially when I thought I had bagged the new low at 21.5 recently
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12/09/2017 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Rubicon Limited
GENERAL: RBC: Rubicon announces new Board appointment
September 12, 2017 - Rubicon announced today, that Mr Ranjan Tandon had been
appointed to its Board of Directors.
Mr Tandon is Founder and Managing Member of Libra Advisors LLC (Libra), a NY
hedge fund that holds a 17.6% interest in Rubicon. Libra had assets of US$2.5
billion and invested in domestic and emerging market equities prior to
conversion to a family office in 2012. Barron's had consistently ranked
Libra in the top 100 Hedge funds.
Mr Tandon is also a Board Member of the NYU Tandon Engineering School (5,500
students), the Carl Schurz Park Conservancy and has endowed Faculty Chairs at
the Harvard Business School and Yale University. He is also a Director of a
listed Stockholm Company, Vostok Emerging Finance, which invests in early and
growth stage fintech companies across emerging markets.
Mr Tandon graduated from the Harvard Business School and received a
Bachelor's degree from the Indian Institute of Technology, Kanpur, India.
Given Libra is a substantial security holder in Rubicon, Mr Tandon is not an
independent director under the NZX Listing Rules.
Lets hope some of this wealth can rub off onto long suffering RBC holders....https://www.insidephilanthropy.com/w...an-tandon.html
Back to all time lows...
It's actually quite laughable how sh*te the company has been at creating any hype whatsoever.
What percentage of shares is held by major shareholders?IMO thats where the trouble with the share price lies.
Stand to be corrected.
Rubicons website says Knotts is 28.28%
sourced from FT
67.47%Per cent of shares held by top holders
Holder Shares % Held David M. Knott PartnershipAS OF 30 JUN 2016 113.04m 23.17% Libra Advisors LLCAS OF 04 JUL 2017 86.11m 17.65% Third Avenue Management LLCAS OF 11 JUL 2017 44.09m 9.04% Perry Corp. (New York)AS OF 30 JUN 2016 39.34m 8.06% Sandell Asset Management Corp.AS OF 11 SEP 2017 35.99m 7.38% Norges Bank Investment ManagementAS OF 31 DEC 2016 5.98m 1.23% Dimensional Fund Advisors LPAS OF 30 JUN 2017 4.45m 0.91% Cougar Trading LLCAS OF 31 DEC 2016 150.00k 0.03% Teton Advisors, Inc. (Investment Management)AS OF 31 DEC 2016 66.67k 0.01%
Down 18% in 1 mth, pretty sure that 18c is a new low, havn't they done well?
Even our philanthropist mate Tandon is down a cool 2.1mil from his last placement.
Knott, well he must be used to it by now...
Would it be in RBC interest to delist from the NZX and list on another market under Arbor Gen once both companies future is sorted out.I was thinking the US market.