Q: Good morning 5i team,
I am a little late reading Q&A. Not a question but a complement of information. Regarding Kevin’s question on August 4th about DOL’s negative shareholder equity: your points are all valid, but my understanding is that this situation on the balance sheet results mainly from their massive annual share buybacks over the last few years. Per share, the cost of the buyback is higher the book value. Thank you for your collaboration, Eric
I am a little late reading Q&A. Not a question but a complement of information. Regarding Kevin’s question on August 4th about DOL’s negative shareholder equity: your points are all valid, but my understanding is that this situation on the balance sheet results mainly from their massive annual share buybacks over the last few years. Per share, the cost of the buyback is higher the book value. Thank you for your collaboration, Eric