Congratulations to the new chairman of NBI
Metrica Partners notes the resignation of the chairman of NBI, announced today, and welcomes his successor: https://nbi-shareholders.com/2020/09/22/congratulations-to-the-new-chairman/ ... more
Second letter to NBI Industrial Finance
Metrica today sent a second letter to the chairman of NBI: https://nbi-shareholders.com/2020/09/21/second-letter-to-nbi-board/ ... more
Engagement update
We have two situations which are public. The first is NBI Industrial Finance in India, a company which owns shares of a major listed cement company worth almost five times its market cap and which carries on almost no other business.
This month, we sent an open letter to the board which we also released to the press and uploaded to a dedicated website (link).
The letter was structured as a list of questions, in line with our policy of first seeking explanations for corporate behaviour before making our own suggestions.
In the first instance, we are asking: ... more
Metrica Partners sends letter to board of NBI Industrial Finance
- Requesting explanation for zero dividend payout despite extremely strong balance sheet
- Asking why company persists with a structure that causes double taxation for shareholders
- Seeking to understand purpose of listing with almost 95% of assets in Shree Cement shares
SINGAPORE–(BUSINESS WIRE)–Metrica Partners Pte. Ltd. (“Metrica”) manages investment funds that are among the largest minority shareholders of NBI Industrial Finance Co. Ltd. (“NBI”, NSE: NBIFIN, Bloomberg: NBI IN). ... more