Brief: Rational Investment Group Delivers Letter To Special Committee Of Tree Island Steel

Tree Island Steel

23/07/2019 14:30

July 23 (Reuters) - Tree Island Steel Ltd  TSL.TO :
    * RATIONAL INVESTMENT GROUP DELIVERS LETTER TO THE SPECIAL
COMMITTEE OF TREE ISLAND STEEL
    * RATIONAL INVESTMENT GROUP - TREE ISLAND IS CONSERVATIVELY
WORTH
$4.49 PER SHARE
    * RATIONAL INVESTMENT GROUP - DELIVERED A LETTER TO TREE
ISLAND
RELATED TO NON-BINDING PROPOSAL TO TAKE COMPANY PRIVATE AT $2.25
PER SHARE
    * RATIONAL INVESTMENT GROUP SAYS EXPECT TREE ISLAND’S
UPCOMING Q2
RESULTS WILL BE POOR DUE TO LINGERING EFFECTS OF THE TARIFFS
    * RATIONAL INVESTMENT GROUP - TREE ISLAND STEEL SHOULD
NEGOTIATE A
BETTER PRICE OR RECOMMEND THAT INSIDER OFFER BE REJECTED
    * RATIONAL INVESTMENT GROUP SAYS EXPECT THAT BY H2, CO'S
REPORTED
RESULTS WILL BEGIN TO REFLECT THE BENEFITS OF CAPITAL INVESTMENT
DEVELOPMENTS
    * RATIONAL INVESTMENT GROUP - BELIEVE TREE ISLAND SHARES
TRADE AT
A SIGNIFICANT DISCOUNT TO THEIR INTRINSIC VALUE
    * RATIONAL INVESTMENT GROUP - ESTIMATE THAT TREE ISLAND'S
OWNED
REAL ESTATE IS WORTH APPROXIMATELY $83 MILLION
    * RATIONAL INVESTMENT GROUP - URGE TREE ISLAND STEEL TO HAVE
PWC
PREPARE OR OTHERWISE OBTAIN AN APPRAISAL OF ITS OWNED REAL
ESTATE

Source text for Eikon:  ID:nCNWVVP67a 
Further company coverage:  TSL.TO 

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