Q: Hi Peter, can you comment on the share cap table of Lumine. With CSU and the hedge fund and others - can you elaborate on other big shareholders (and their stake) and can you comment on how tight the float is. Also at the $19 level is it a buy?
Thank you
Thank you
5i Research Answer:
CSU owns its LMN shares through preferred shares, but on a fully-exercised diluted basis owns about 71% of LMN. Blacksheep Fund owns 11%; Janus owns 2.2%; Fidelity owns 1.8%. Thus, the public float is quite small. We recently added to our position in the balanced portfolio and think it is buyable today for long term growth investors.