Sunday, 28 August 2016
Last updated 2 days ago
Sep 23 2008 | 2:46am ET
San Diego hedge fund shop Mentor Capital has announced a share repurchase plan designed to boost its stock price.
The firm, which manages $13.5 million, said it would buy back some 12.5% of its pink sheets, complaining that the market has “recently discounted MNTR to sometimes a fraction of cash and investments,” despite the fact that the firm “has no exposure to the current financial crisis and many be considered a small, healthy safe haven from the sub-prime problems that have decimated larger Wall Street firms.”
Mentor said it has “a strong cash position” and no debt.