TRE - Treasure ASA

[writser]

Yeah, you are right. Looks like Norwegian public companies can only hold a 10% treasury share position, same as in Germany.

[compounding]

Did anyone attend the AGM?

[alwaysinvert]

Apparently there has been a reveal in Norwegian media that the Wilhelmsens have had some until now unknown offshore assets. From what I gather, they have brought back about 1 billion NOK to Norway with the help of tax amnesty laws. This is obviously bad press and politically sensitive for the family, but I don't see how it is bad news from the perspective of Treasure.

 

https://www.dn.no/kriminalitet/kari-elisabeth-kaski/eigil-knutsen/skatteplanlegging/apner-for-a-avslutte-ordningen/2-1-984456

[compounding]

Business Korea reporting that the IPO of Hyundai Engineering will be the first step of a "full-fledged restructuring":

http://www.businesskorea.co.kr/news/articleView.html?idxno=64704

There was an article a week ago or so that suggested that Euisun might sell his Glovis shares to buy Mobis. This option sounds pretty stupid to me, but perhaps worth mentioning. 

[alwaysinvert]

Would probably be a great entry point if you could establish confidence that Thomas won't piss away value sitting on his behind or, worse, investing in some new renewable scheme instead of returning capital.

On second thought, under currrent market conditions the stock might pop if he plows money into underwater solar panels.

[alwaysinvert]

Here's a more detailed look at what the Chung family is trying to do: Hyundai Motor Group moving toward governance restructuring (koreatimes.co.kr)

 

And a nice overview of the shareholdings 

 

[compounding]

Btw, I think the above article is wrong. They have probably confused the ownership of the Hyundai Engineering stake - Glovis owns 11.67% of Hyundai Engineering which according to one report I read was valued at KRW 1.2 tn. 
 

Not inconsequential in relation to the market cap of KRW 6.9 tn.