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Exeter Capital disclosed a 5.97% stake in CBL Properties (CBL) in an SEC filing. Exeter acquired 10.35M shares of CBL common shares for a total consideration (excluding brokerage) commissions of $9.82M, equating to an average price below $1 (~$0.95). Exeter anticipates:
having discussions with management and the Board of the Issuer on a constructive basis relating to the Issuer’s underperformance, overall business strategy, board composition (which include reconstitution of the Board), corporate governance, management accountability,