A top asset manager has slammed a proposal to buy out minority shareholders at AltX-listed boutique hotel group Gooderson Leisure Corp.In late July, Gooderson’s majority shareholder, the Alju Family Trust (named after Alan and Judith Gooderson), offered to buy out other shareholders at 65c/share. Though the buyout represents a premium to the pre-announcement share price average, the offer is pitched well short of Gooderson’s most recent stated tangible net asset value (NAV) of 157c/share.Gooderson minorities are currently in limbo, with a delay in the issuing of the circular detailing the proposed buyout scheme.In mid-September Gooderson indicated there had been a delay in the finalisation of the fair and reasonable opinion.In a letter to the takeover regulation panel (TRP), well-known asset manager Dean Ginsberg, who holds Gooderson shares in his personal capacity, took serious issue with the effective offer consideration to minorities of R13.8m. He pointed out that Gooderson has b...
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