Lucerne Capital Management issued the following statement supporting the Company’s recently announced buyback program and highlighting the extreme attractiveness of Intertrust stock.
"Intertrust’s valuation remains extremely attractive, and is currently the cheapest stock within the broader business service sector despite having a superior financial profile to its peers. As a large Intertrust shareholder, we support the Company’s recently announced share buyback program, and encourage the Company to take advantage of its capacity to incorporate additional share buybacks as an ongoing tool in its Capital Allocation toolkit, not just as a one off. We look forward to maintaining a constructive and ongoing dialogue with Management and the Supervisory Board of the Company to help enhance value for all Intertrust shareholders."
Presentation outlining the attractiveness of Intertrust’s valuation below.