RAMcap writes down its FIG position to zero

Jan 24, 2020
RAMcap has a modest position of 2 million FIG. Our investment is approximately $100,000.
FIG has announced its intention to convene an EGM to approve a voluntary winding-up. The FIG directors assert that a liquidation will provide ‘a clear and certain outcome for Shareholders’.
It is highly unusual that FIG shareholders will be voting without the benefit of a balance sheet. There has been no indication of when a liquidation dividend could be paid. There is no indication of the quantum of this dividend.
RAMcap believes that a liquidation – a process governed by statute – will be drawn out, that funds will be consumed in unnecessary investigations into  ‘ other issues’ with the consequence that the eventual dividend will be pitifully small …if there is a dividend.
RAMcap will request its custodian to vote NO at the EGM on the 21st February.
We invite all FIG shareholders to do the same.
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.