I have shares in GPG and do not understand the capital return to shareholders.
It looks like GPG are redeeming shares at the market value not the asset backing.
NTA 85c approx. Return of capital at 55c approx.
Where is the value in this to shareholders. We could sell on market and get the same value and not need to wait for years and get the money back in dribs and drabs.
I am missing something. Can anybody explain to me what is happening.
In early statements Management said eventually it would become a play on Coates(the main asset) after all capital had been returned but if I have no shares left how do I benefit from getting the market value and not the NTA