to be clear, I'm not buying or selling shares based solely on this news. I have owned NCK for well over a decade, and continue to hold ... but, as per my earlier post, I find some recent developments a little unsettling and the following comment from last night quite baffling:
"This transaction results in the establishment of a strategic shareholder for the Company with the objective over time to assist the company to realise its growth strategies".
It seems to be presaging some further development ... but what? The most obvious explanation is a large offshore acquisition. Where? What? I'm not very enthusiastic. Some speculation it could be the UK? ^
whatever, wherever, I'm not sure NCK or its shareholder base really needs an offshore acquisition. At the same time our CEO prefers to reduce his financial exposure to the firm including selling his stake (rather than issuing new shares) and by selling related properties previously owned by him
GLAH
^ PS. I hope it isn't UK. I know the UK retail furniture sector (as an investor) ... its been awful place to invest ... SCS, DFS, Land of Leather ... Plenty of shareholder wealth lost there.
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