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

Toshiba – Shareholder Returns Trump Weak Guidance

Toshiba Results & Shareholder Return - Possibly Big Impact Buyback Coming

How Much of Toshiba Is Owned By "Activists"?

Toshiba - The King Is Dead, Long Live the King

Toshiba - The CEO Gets His MBO Bidder and Toshiba Will Get Interestinger

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Event-Driven

Today, <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a> announced that it had received a letter from CVC yesterday which did not provide a followup proposal with any detail worth evaluating, but instead contained a statement that "CVC would step aside to await our guidance as to whether a privatization of Toshiba would suit management’s and the Board of Directors’ strategic objectives."There is a one-plus page <a href="https://www.toshiba.co.jp/about/ir/en/news/20210420_1.pdf" target="_blank" rel="noopener">statement</a> (linked here and attached below) from Toshiba. It is carefully written and worth parsing. It is also worth understanding what is in there for investors.

Today, Toshiba Corp (6502 JP) announced that it had received a letter from CVC yesterday which did not provide a followup proposal with any detail worth evaluating, but instead contained a statement that "CVC would step aside to await our guidance as to whether a privatization of Toshiba would suit management’s and the Board of Directors’ strategic objectives."There is a one-plus page statement (linked here and attached below) from Toshiba. It is carefully written and worth parsing. It is also worth understanding what is in there for investors. 

CVC Suspending Its Bid Is Just That - The Cat Is Still Out Of the Bag