News Breaks |
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| October 24, 2012 |
| 15:55 EDT |  | SVVC | Bulldog raises stake in Firsthand Technology Value Fund to 8.85% from 7.45%
Bulldog believes that the company's shares trade at a large discount (currently about 25%) to net asset value. They have proposed that management and the Board consider measures to address the discount including causing the company to repurchase its shares in the stock market and/or conduct a self-tender offer. Since the Company has more than $160M in cash (as of September 30), Bulldog thinks there is no better current investment for the company than buying its own shares at a sizeable discount. |
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