First Ship Lease - Stunning Cash Generative Business

The untimely indication by the Chairman on a proposed Rights Issue has dampened the share price. I will submit this query in the coming AGM :-

"In view of the weak ship charter rates and the declining vessel values in the medium term, wouldn't it be logical for the Trust to consider disposing some vessels (most vulnerable ones) now and the proceeds to be used to
pay down the outstanding bank loan. The trend may still be weak for the shipping industry and the faster this strategy is implemented the better it will be for the company and the unit holders. Operating and financial risk
must be managed now. Any proposed call for Rights Issue should be carefully considered and to be taken as a last resort".

I hope he will address the query objectively.

Stock has jumped 28% in 2 days. From 7.9 cents to 10.1 cents
What is its fair value pls?

takeover offer at 5.85 SG cents is pathetic against a NAV of 0.25 USD.

If IDs recommend minorities to accept offer, they fall into the same category as IndoAgri IDs and should be asked to resign.