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

First News of Toshiba "Studying a Privatisation Plan"

Toshiba (6502 JP): National Security Overrides the Interests of Speculators

Toshiba (6502) - Effissimo's Pledge Isn't One. It Is a Signalling Device.

Toshiba Board Ructions as Independent Director Goes Rogue

Toshiba Strategic Review - Bold and Unexciting, Promising But Not.. Doesn't Solve the Problem

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Event-Driven

<ul>
<li>Toshiba EGM fails to provide a positive result as both Toshiba's own Separation Plan and 3D Investment's proposal to enhance privatisation bidder engagement and transparency fail. </li>
<li>Activists are stuck. Management is too. 3+ years since the last big buyback and 3 new CEOs and we are back to the drawing board for both management and activists. </li>
<li>But both have a head start. The Shareholder Return Plan, eventual disposition of Kioxia, and non-core asset sales would be a start. And Raymond Zage's letter is worth a re-read.</li>
</ul>


Toshiba EGM fails to provide a positive result as both Toshiba's own Separation Plan and 3D Investment's proposal to enhance privatisation bidder engagement and transparency fail. 
Activists are stuck. Management is too. 3+ years since the last big buyback and 3 new CEOs and we are back to the drawing board for both management and activists. 
But both have a head start. The Shareholder Return Plan, eventual disposition of Kioxia, and non-core asset sales would be a start. And Raymond Zage's letter is worth a re-read.


Toshiba Coin Toss Is Neither Heads Nor Tails as Both Proposals Fail

Toshiba Corp

Toshiba Coin Toss Is Neither Heads Nor Tails as Both Proposals Fail