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Wilhelmina International, Inc. Message Board

  • jeeree234 jeeree234 Jul 9, 2010 9:21 AM Flag

    What's The Modification And Extension Mean?

    I have no idea. Anyone know enough about the company to comment?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The Co deemed the previous owners as acquiring persons. That tripped the rights agreement in which all the shareholders except the acquiring persons would get rights to buy preferred shares.


      Instead of issuing these rights, the Co has been delaying it month by month until the squabble is worked out. One side filed something with the court saying both parties intend to work everything out by September. So if this is not resolved by Aug 3 then expect another filing Aug 3 delaying it until Sept 3. I don't see them ever issuing these rights, since they are supposedly working everything out. I believe they have tentatively worked something out, but they have not announced anything yet or haven't filed anything with court saying as much. They have until Sept to settle or they have to go back to the principal's office(court/ judge).

      Hope this explains it a little.

 
WHLM
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