Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

7&I (3382) - Clarifications of Clarifications But Progress Is Apparent

7&I (3382) - FY24 Better, FY25 OK, Surprisingly Large Buyback

7&I (3382 JP) - Alimentation Couche-Tard Walks, Lobbing a Letter Bomb

7&I (3382) Possibility of YUUUUUGE Buyback?

7&I (3382) - Artisan Writes (Again) And 7&I Updates (Again) - More Positive Outlook Now

7&I (3382) - A Starting Point for the Standalone Plan - The Good, The Bad, The Ugly

Quiddity Advisors

Event-Driven

<ul>
<li>On 10 March, <a href="https://www.smartkarma.com/entities/alimentation-couche-tard-inc" target="_blank" data-smartkarma-citation="entities:25103:1" rel="noopener">Alimentation Couche-Tard (ATD CN)</a> issued a release "<a href="https://corporate.couche-tard.com/2025-03-10-ALIMENTATION-COUCHE-TARD-PROVIDES-UPDATE-ON-PROPOSAL-FOR-A-COMBINATION-WITH-SEVEN-i" target="_blank" rel="noopener">UPDATE ON PROPOSAL FOR A COMBINATION WITH SEVEN &amp; i</a>".</li>
<li>They felt obliged to be transparent in the wake of the 7&amp;i <a href="https://www.7andi.com/library/dbps_data/_material_/localhost/en/release_pdf/2025_0310_02en.pdf" target="_blank" rel="noopener">Letter To Shareholders</a> released yesterday. The content/nuance of the two letters differ significantly. </li>
<li>Two parties competing to get a truth which cannot be both could be problematic. We are still <em>many</em> months away from any kind of ACT/7-11 deal.</li>
</ul>


On 10 March, Alimentation Couche-Tard (ATD CN) issued a release "UPDATE ON PROPOSAL FOR A COMBINATION WITH SEVEN &amp; i".
They felt obliged to be transparent in the wake of the 7&amp;i Letter To Shareholders released yesterday. The content/nuance of the two letters differ significantly. 
Two parties competing to get a truth which cannot be both could be problematic. We are still many months away from any kind of ACT/7-11 deal.


Seven & I Holdings

7&I (3382) Update - Couche-Tard Responds