Investment in Centaur Media plc

6 Months Ended

May 31, 2016

Investment in Centaur Media plc

Investment in Centaur Media plc

4.Investment in Centaur Media plc

As of May 31, 2016, Griffin held 1,952,462 shares of common stock in Centaur Media plc (“Centaur Media”). Griffin's investment in the common stock of Centaur Media is accounted for as an available-for-sale security under ASC 320, “Investments – Debt and Equity Securities.” Accordingly, changes in the fair value of Centaur Media, reflecting both changes in the stock price and changes in the foreign currency exchange rate, are included, net of income taxes, in accumulated other comprehensive loss (see Note 7). Griffin did not sell any of its Centaur Media common stock in the 2016 six month period or in the 2015 six month period.

The fair value, cost and unrealized gain of Griffin’s investment in Centaur Media are as follows:

	May 31, 2016		Nov. 30, 2015
Fair value	$	1,449	$	1,970
Cost		1,014		1,014
Unrealized gain	$	435	$	956