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Sport Chalet Inc. Message Board

  • janicem_98 janicem_98 Jul 3, 2014 9:11 AM Flag

    Take note - tender price could be dropped to $1.04/share

    If you haven't read the tender documents, you should - you may learn something you don't already know.

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    • I don't care how low it drops. I'm not selling and if they take my shares then a jury will decide. Screw class action, just another trick to get our shares.

      Sentiment: Hold

    • You are a joke and a moron. Go ahead, let the share price drop. Then it won't be filled at $1.04 either. THEN maybe LEVRA & Gang will get their walking papers and an open and FAIR transaction can be accomplished. Great luck to all.........

      • 1 Reply to valuemonster123
      • How stupid are you and how many shares do you own? What don't you understand about who owns the majority of all the shares? Over 50.1% ownership. I actually find it hilarious that you think that "shareholders" includes you, other small time shareholders and excludes Levra and Olberz - right? Your vote means nothing - they are acting in the best interests of the majority - they are the majority, they own the majority of shares. Why do you find it so difficult to get that through your head?

        How will Levra and Gang get their walking papers? Who is going to give it to them?

        I'm amazed at how stupid Average Joe investors like yourself are. Just enough smarts to press the Buy button, yet do not even understands what it means when someone or some group own the majority of shares.

    • True. And that is why EVERY shareowner needs to accept the tender offer ASAP.

      • 2 Replies to pezaguy
      • I also did take about 15 minutes to read through all the materials this morning, and there is a clause that allows Vestis the right to "Top Up" so they can purchase enough new shares to achieve a 90% acceptance to negate the effects of reluctant shareholders who vote against or refuse to tender.

        In the event that they do not get the 90% necessary for the Short Form procedure, my guess is they would not drop the offer to $1.04 and do the Long Form, but instead opt for the Top Up and purchase enough new shares for themselves to override those shareholders and get to 90%, once again allowing them to use the Short Form procedure. If you think about it, paying for additional shares is really a non-issue/non-event as the money they pay for new shares is just cash that will come right back to them when the buyout complete. So, I think they will take this approach in that it will be less costly and get it done quickly, which is obviously the plan here.

      • person who replied to me earlier this morning and since removed his post indicated that as a B shareholder he was voting against it and refusing to tender.

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