Where did you get these numbers? I have not seen any proxy vote info yet for the shares I hold? Did I miss something. I am obviously going to be voting 'no' so if I am not given the opportunity to vote my shares, then something is really wrong here. Has some kind of voting documents already be sent to shareholders? I am at a loss here.
I'm not so sure. If they tried to get it for $8.80 a year ago and moved fast, they probably could have. But I don't think there is anybody voting against the deal now that thinks the company is worth less than $15 per share even with a massive "China discount" already included. My guess is that the share price doesn't stay below $7.70 long enough for them to even try to get it at that price.
Re: the misleading priliminary proxy: Have you or others "officially" pointed this out to the SEC so that they could not say that they didn't know about this? My opinion is that the SEC does what gets them, and the President, the most and best PR ......... period. This buyout is fraudulent, pure and simple, BUT is there any good PR to come from the SEC investigating it?
If you believe half of your own BS you would sell you imaginary shares and move on. What idiot Turd would hold shares that could go from $6 to $5 or $4 on a single press release? The answer is no one. Which makes you a shill\Turd that ownes no shares.
forty, when and if the LBO is withdrawn, this stock will drift back to the pre-offer range, i.e. below $5 or even $4 because of lack of interest. Even if you sell the stinking delicious Duran at 10 cents a pound, no one will touch it in western countries. I'll be one who will sell all and call it a long day.
jlp, When Glenhill announce that they were voting no the price went up. I would say that is a signal that you would want to have all of your shares in place before the "No" vote becomes official. Also, you would want a full position incase the offer is withdrawn, which is a possibility.
39c below LBO price and substantially below $6.48 after Glenntree filed its vote no SEC disclosure on Oct 10 (closed at $6.45)...thanks a lot, not:
Important SEC filing by Glenhill Capital Advisors everyone should read. 1.9M shares. (Read Edgar)
by watr •Oct 12, 2013 3:14 PM
sprinting_turtle • Oct 12, 2013 10:33 PM
Right, they accumulated a boat load AFTER the deal was announced AND tell us after the price have risen to $6.25. They would be more credible and sincere if they came out when the share price was cheaper, or any time during the trading halt or before they began to accumulate shares.
yes nothing is for sure certain as we do not know if and how some of these broker non vote will do but at least the NO has an advantage right now and the buy out partners will have to do a lot more work to convince people to vote Yes if they want to get the deal approved. I am also still waiting to see if the SEC will approve their preliminary proxy with all the wrong numbers in particular the projection of 2013 net income and the Capex spending in 2013, just these 2 elements alone make this "proxy significantly misleading or false" based on the SEC definition and would need to be adjusted changing the whole valuation model of HL.
Again I am relatively optimistic we have a chance to kill the deal at least at the current ridiculous price
forty, LOL! 17 million institutional not voted equals 17 million no votes? How about those not voted will vote when the chips are down? How about the possibility that the no-votes are the vast majority of the LBO nays and the vast majority of institutional votes will lean with management, usually they do.
I would agree. Even if dramatically more shares vote during the buyout vote, and the majority of those voted yes, the buyout still wouldn't pass. My question is what do we do with this good news? Is this a buy before the vote?
I get the same numbers. Apathy alone pretty much ensures that the deal will not go through. If you take out the 19.2 Milion excluded shares only 9 million shares actually voted with 17 million shares not voting. If the buyout vote follows the same pattern you will have 4 million for and 21 million against the buyout
If I'm reading the 8K correctly, the Board Members got, on average 23.6m votes "For", 4.5m votes against and 17.0M non-votes
Assuming that this is representative of how folks will vote for the buyout, keep in mind that approval of the deal requires 50%+ vote excluding the "excluded shares". Looking at the latest draft proxy, I see the following ownership for "excluded shares":
555,000 Z Wu
7,657,704 Full Alliance
2,030,000 Prosper Sino
That's a total of 19,242,043 shares held by them. Assuming they all voted in favor of the Board Members this week, we would need to deduct their votes from the "For"s in order to see how many votes were in favor without the "excluded shares".
Simple math would say 23.6m "For" - 19.2m excluded shares = 4.4m for votes that would count for the buyout. That is already less than the 4.5m shares voted against the BOD who most likely will also vote against the merger.
This doesn't even take into account that all votes "withheld" will count as votes against the merger. So assuming that the same number of votes are withheld, that would be 21.5m votes against and 4.4m votes for the buyout in the required vote that excludes the "excluded shares".
Of course, it's hard to say whether some of the withheld votes could become "For" votes when it comes to the buyout, but this certainly looks very promising to vote down the deal.
Nominee For Withheld Broker Non-Votes
Zishen Wu 23,878,506 4,247,200 17,026,308
Xiaochuan Guo 23,597,700 4,528,006 17,026,308
Sean Shao 23,310,108 4,815,598 17,026,308
Xindan Li 23,646,225 4,479,481 17,026,308
Rijun Zhang 23,650,626 4,475,080 17,026,308
still no news, they have a requirement to file an 8K up to 4 Business days after the event, so at the latest they should file by Monday but I hope they won't wait until last minute to inform us of the vote.....
What I meant was - for our purposes the meeting is Dec. 2nd (9:00pm.) 9:00am local time (Dec.3rd implied) Hopefully good news will travel fast.
small correction the meeting is Dec 3rd 9:00am local time which means in the evening of the 2nd, tonight US time, we could have the results of the votes for the directors tomorrow I hope, we will see how many shares were withheld for the Directors and how many non-broker votes there were, if more than 19.5m shares, the NO has a chance to win as long as the same shareholders who withheld their vote are still shareholders at the time of the Buy Out vote and vote NO and those who didn't vote for this vote do not vote for the next proxy vote. Again just an indication on how our chances of success are but nothing for certain.
Sentiment: Strong Buy
I am from Germany. Can you give me a name from your favorite Attorney. Is ist important how many share you own as a client, or are 2000 shares enough ?