“Explore the options”
Posted Sep 6, 2011 08:23:25 AM.
This article is more than 5 years old.
TORONTO – An investment bank with holdings in Research In Motion (TSX:RIM) is urging fellow shareholders to push the BlackBerry maker to explore its strategic options, including potentially selling or splitting up the company.
Jaguar Financial Corp. (TSX:JFC) says directors of the Waterloo-based technology company should consider spinning off its patent portfolio into a separate company.
The chief executive of the Toronto-based investment bank said in a statement that RIM needs a transformational change before its market value is lost.
In a statement issued today, Jaguar wants RIM Directors to “Commence a Value Maximization Process.”
Jaguar Chairman and CEO Vic Alboini says “The status quo is not acceptable, the Company cannot sit still. It is time for transformational change. The Directors need to seize the reins to maximize shareholder value before more market value is lost.”
While RIM share values have rebounded to some degree recently, they are still down year to date by 49%.
