Seeking Alpha

Goldstein calls for board shakeup, speedier buyback at Javelin

  • Phillip Goldstein's Bulldog Investors adds to its stake in Javelin Mortgage (JMI), now reporting the ownership of more than 1M shares, or 7.65% of the company.
  • In a letter to the board, Goldstein confirms Bulldog's intention to nominate its own directors at the next board meeting and calls on the company to speed up the repurchase of shares (the board has authorized 2M) while the stock remains at a discount to book value.
  • Javelin reported a book value of $14.69 as of September 30 vs. today's close of $11.74, putting the stock at a 20% discount to book.
  • SEC Form 13D
Comments (4)
  • Phattboy43
    , contributor
    Comments (143) | Send Message
     
    Someone finally doing something about JMI/ARR performance/accountabi... This is a good thing.
    22 Nov 2013, 04:42 PM Reply Like
  • Christopher F. Davis
    , contributor
    Comments (1454) | Send Message
     
    Get it done!
    22 Nov 2013, 04:47 PM Reply Like
  • sederrj
    , contributor
    Comments (123) | Send Message
     
    They need a good shakeup!!!!!!!!!!!
    23 Nov 2013, 06:00 AM Reply Like
  • johnmcfarlandaz
    , contributor
    Comments (6) | Send Message
     
    Bulldog Investors 14a-8 Proposal: The shareholders of Javelin Mortgage Investment Corp. request that the Board of Directors commence the liquidation of the Company. What are the chances?
    http://bit.ly/Io1Up9
    24 Nov 2013, 10:06 PM Reply Like
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