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M-Spec Industrial Resources 4th Quarter Dividend and Operating Results
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Jay Aaron
M-Spec Industrial Resources Ltd
Agents of Fortune
#1 - 2016-10-11 03:26:06 UTC  |  Edited by: Jay Aaron
M-Spec Industrial Resources Ltd (MTLS) is pleased to announce a 3rd quarter dividend of 10,000 ISK per share, to be paid this Friday, October 14 to current shareholders of record.

During the quarter, share net asset value rose from 607,900 ISK to 644,400 ISK. Shareholder return, including dividend, amounted to 7.6%. During the quarter, the portfolio took advantage of buying opportunities in oversold materials such as Fernite Carbide, of the Advanced Materials group, and Heavy Water, of the Ice Products group, to outpace the performance of the overall industrial materials sector. Late-quarter rebounds from seasonal lows in several other key basic materials holdings, and continued strong performance in select planetary materials also helped secure the gain.

For the 12 month period ended September 30, share net asset value rose from 507,500 ISK to 644,400 ISK. Total return for the 12 month period, including dividends of 40,000 ISK, amounted to 34.9%.

As of September 30, M-Spec's assets totaled 865 billion ISK, of which 80 billion ISK was in cash.

For more information, see the bio of and/or contact Jay Aaron in-game.
Jay Aaron
M-Spec Industrial Resources Ltd
Agents of Fortune
#2 - 2016-12-29 15:41:29 UTC  |  Edited by: Jay Aaron
Notice To Shareholders:

Voting is now under way on two proposals:

Proposal 1: Raise the quarterly dividend by 25% to 12,500 ISK

Argument in favor of the proposal:

The current quarterly dividend of 10,000 ISK per share was implemented in April of 2013, when MTLS stock was priced at approximately 345,000 ISK per share. The dividend, which represents a current and ongoing return to shareholders, has diminished considerably as a percentage of share value, as shares have grown to a current price of 627,000 per share.

Argument against the proposal:

Total return to the shareholder includes growth in the value of the stock as well as dividends. When corporate funds are distributed to shareholders in the form of a dividend, those funds are no longer available to be reinvested in assets with the potential to grow in value. By limiting the dividend to its current level, more funds are retained by the Corporation for investment, leading to greater growth in share value.

Proposal 2: Amend the Charter to permit up to 20% of Corporate funds to be invested in Pilots and/or Pilot Services. This would permit the Corp to invest in PLEX, Skill Extractors, Skill Injectors, and implants. It would also permit direct investment in characters through the Character Bazaar.

Argument in favor of the proposal:

Characters, game time and character enhancements have been widely commoditized with the introduction of Implants, PLEX, the Character Bazaar, and, most recently, Skill Extractors and Injectors. Markets for these commodities have grown to be very lucrative, with price action over time that offers attractive investment potential. The sector also affords a high degree of liquidity, which would add agility to Corporate cash management capabilities.

Argument against the proposal:

Investment in characters, game time, and character enhancements fall outside the original mission of the Corp, and the scope of its investments. These items trade with volatility and relatively tight profit margins; investment in the items would add a level of risk that may not be suitable to shareholders.

Voting on the proposals will be open for 5 days, through January 2, 2017. Results of the voting will be communicated with our quarterly report in early January.
Jay Aaron
M-Spec Industrial Resources Ltd
Agents of Fortune
#3 - 2017-01-05 20:22:59 UTC  |  Edited by: Jay Aaron
M-Spec Industrial Resources Ltd (MTLS) is pleased to announce a 4th quarter dividend of 10,000 ISK per share, payable Tuesday, January 10 to shareholders of record as of Sunday, January 8.

During the quarter, share net asset value rose from 644,400 ISK to 651,400 ISK. Shareholder return, including dividend, amounted to 2.6%. Downward trends in a wide range of industrial materials at the outset of the quarter were augmented by an additional layer of selling pressure as players accessed and liquidated assets held in idle accounts through Ascension's Alpha program. A late surge in some key materials, particularly in the Minerals group, allowed shares to escape the quarter with a modest gain in value.

For the 12 month period ended December 31, share net asset value rose from 540,100 ISK to 651,400 ISK. Total return for the 12 month period, including dividends of 40,000 ISK, amounted to 28.0%.

As of December 31, M-Spec's assets totaled 873 billion ISK, of which 96 billion ISK was in cash.

Results of Shareholder Votes:

Proposal 1: Raise the quarterly dividend by 25% to 12,500 ISK

Votes in favor, 619,000; opposed, 683,000; abstained, 38,725

The proposal was narrowly defeated in the wake of flat quarterly performance. A dividend increase will be revisited in the future. A couple of large shareholders also cited longer-term goals of reaching 1 trillion ISK in assets and a share value of 1,000,000 ISK.

Proposal 2: Amend the Charter to permit up to 20% of Corporate funds to be invested in Pilots and/or Pilot Services

Votes in favor, 844,500; opposed, 457,500; abstained, 38,725

Shareholders strongly favored the proposal. M-Spec anticipates investing a portion of its cash in PLEX and related Pilot Services during the 1st quarter.

For more information, see the bio of and/or contact Jay Aaron in-game.