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Ultrapetrol (Bahamas) Ltd. Message Board

  • laura_axeen laura_axeen Nov 14, 2012 5:12 PM Flag

    At a quick glance the terms for this infusion of cash means....

    ULTR and the Menendez family gave up controlling interest (voting power). However if certain numbers are made by certain times, the Menendez group will be able to purchase 14 percent of the shares they just sold...thus putting them back into controlling interest.

    Sentiment: Strong Buy

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    • so this is 78 % of the voting stock not 78% of the company?

      • 1 Reply to hondo_43
      • Other way around, the 78 percent is ownership of the company but does not represent they have 78 percent of the voting power. Menendez still has stock worth 7 votes each.

        Look at it this way, CB, put 14 percent up as stock incentive for ULTR to perform. This is Menendez's baby and he did not want to sell it. His only option was just this...in hopes of retaining control at some certain date. We will find out more soon. This stock may not triple as was hoped but for sure will double througout next year.

        Sentiment: Strong Buy

 
ULTR
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