The most important part of the letter is of course the topic below.
Unlocking Shareholder Value
On November 15, 2011 , ChinaCast Education Corporation announced that its Board of Directors had formed a special committee of independent directors to consider all strategic alternatives which would enhance shareholder value after receiving an unsolicited bid for the Company made by a qualified institutional investor at a significant premium to the current market price of the Company's common stock.
On December 8, 2011 , ChinaCast Education Corporation announced that the Special Committee has retained Paul, Weiss, Rifkind, Wharton & Garrison LLP to act as its independent legal counsel and Credit Suisse Securities ( USA ) LLC to act as its financial advisor in connection with the Special Committee's evaluation of strategic alternatives. The Special Committee, working with its advisors, intends to proceed in a timely and orderly manner, but has not set a definitive timetable for completion of its evaluation, and does not currently intend to announce developments unless and until a definitive transaction or strategic option has been approved. The Company cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is undertaken, the terms or timing of such a transaction.
The Board of Directors believes that this offer may represent the best opportunity to unlock shareholder value for all investors.
Personally I think a Private Equity Bid or MBO will unlock the value. Price could be around $11.