Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Activist Murakami-san and entities spent 4+ years going from 2% to 30% of <a href="https://www.smartkarma.com/entities/central-glass-co-ltd" target="_blank" data-smartkarma-citation="entities:8462:1" rel="noopener">Central Glass (4044 JP)</a>. In that period, they helped management change governance.</li>
<li>There were buybacks, asset sales, cross-holding sale decisions, and a new Mid-Term Management Plan. The stock went up, so now it is time to get out.</li>
<li>True to Murakami-san style/form, it is an own-share Tender Offer by the TargetCo which means most other active holders can't really participate. It's high-quality greenmailgagement.</li>
</ul>


Activist Murakami-san and entities spent 4+ years going from 2% to 30% of Central Glass (4044 JP). In that period, they helped management change governance.
There were buybacks, asset sales, cross-holding sale decisions, and a new Mid-Term Management Plan. The stock went up, so now it is time to get out.
True to Murakami-san style/form, it is an own-share Tender Offer by the TargetCo which means most other active holders can't really participate. It's high-quality greenmailgagement.


Central Glass (4044 JP) - Huge Buyback Tender, Meant For Murakami-San's Exit, Not Yours