Rob Strugo's questions to MIL leadership • Q2 2015
Question
Rob Strugo of RAF Investments asked for an update on the planned shareholder distribution from the sale of energy assets, including the expected per-share amount. He also inquired if the bank acquisition was a reason for Peter Kellogg's departure from the board.
Answer
IR Rene Randall confirmed the plan to sell the assets and distribute proceeds is still active. CFO Sam Morrow estimated the distribution would be approximately $100 million, or about $1.60 per share, based on book value. CEO Gerardo Cortina stated that Mr. Kellogg was supportive of the bank strategy and his departure was a personal decision to move on to other activities, unrelated to the acquisition.