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Stock Market & Financial Investment News

News Breaks
October 28, 2011
09:11 EDTGTUCentral Goldtrust 2.375M Secondary priced at $67.90
News For GTU From The Last 14 Days
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October 6, 2015
07:05 EDTGTUSprott Physical Gold Trust increases offer for Central Goldtrust, SBT
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September 28, 2015
07:49 EDTGTUCentral GoldTrust tells shareholders to reject 'inadequate' Sprott offer
Central GoldTrust (GTU) issued a letter to shareholders urging them to reject Sprott's (PHYS) "inadequate" offer. "They have made no improvement to the terms of their offer, which is now set to expire on October 9, 2015. The reason for this latest extension is clear: despite bombarding Unitholders with a drawn out smear campaign against GoldTrust, its Trustees and its administrator, and despite paying brokers to convince their clients to tender, Sprott has failed by a substantial margin to achieve sufficient support from GoldTrust Unitholders to complete their offer. Sprott's offer cannot succeed unless 66 2/3% of the Units are actually tendered, which has not been achieved. Over the next few weeks, Sprott will undoubtedly continue to harass you and spread misinformation. Don't be fooled, the facts haven't changed: retaining your GoldTrust Units remains a clearly superior alternative to Sprott's inadequate offer, which is solely driven by their desperate desire to increase their assets under management and reverse the precipitous decline in their fee revenue, which has dropped by almost 40% since 2012."

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