We’ve been conditioned to expect a big lump of coal in our stocking.
The period between now and 1/1 is relatively unproductive in banking, capital markets, law, and the like. My base case is a postponement. What’s yours?
Conversion
6 thoughts on “Conversion”
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The Texas Pacific Land Trust Investor 
We have missed a golden opportunity to repurchase shares.
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1) There are things happening behind the scenes that, for legal/SEC reasons, cannot be discussed publicly.
2) Horizon has their own end game and not for the benefit of all of us. I doubt that and hope (pray) they are serving as an activist investor.
3) The trustees know the Judge is not around to keep an eye on them and they are back to their old ways (of secrecy). They are trustees of a public company!!!!
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Please explain what you mean when you doubt HK is serving as activist investor?
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Sorry – to be clear – I hope and assume they are serving as an activist investor. I assume they are as they are as invested as we are
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This just in…
https://www.businesswire.com/news/home/20201123006155/en/Texas-Pacific-Land-Trust-Declares-Special-Dividend-of-10.00-Per-Share
$10 per share dividend payable on Dec 17th and conversion anticipated by mid January 2021.
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Yup, interesting that they declare this so close to the conversion…
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