Conduit’s tale of lost opportunities
The elevated cost of running the company may have contributed to its downfall
Reminiscent of the value destruction that was seen at the likes of Tongaat Hulett, Steinhoff and EOH, Conduit Capital’s 94.6% loss over the past year until the share’s trading was suspended in September is of blood–curdling proportions.
Conduit’s demise has many angles. And this is a sorry state of affairs, as Conduit’s main holding, Constantia Insurance, operates in an important niche in the assurance market. Now Constantia’s general insurance business is being liquidated and Conduit’s valueless shares have been suspended from trading as the company couldn’t release its full-year financial statements by the end of September...
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