okeanisecotankers.com states: Discount Control Mechanism (“DCM”)
Beginning in Jan. 1 2021, OET will conduct a formal quarterly process by which our NAV per share is calculated and compared to our market price
If there is more than an insignificant discount, then OET’s BoD will
Beginning in Jan. 1 2021, OET will conduct a formal quarterly process by which our NAV per share is calculated and compared to our market price
If there is more than an insignificant discount, then OET’s BoD will
vote on selling one or more vessels and using the proceeds to [i] distribute a special dividend or [ii] repurchase shares. Implementation has been achieved via Board resolution". Combine this with the most reliable and up to date NAV (VIE based on VV) being 118 NOK updated Sunday
So 50% of NAV and that is pre a known excellent Q2 adding further to NAV and post overvaluation of ships due to high rates Excellent charter coverage protects during seasonal Q3 downturn & destocking, followed by DCM followed by ECO fleet in high oil recovery market environment👍
