Intent to Tender
To the Company's knowledge after reasonable inquiry, all of Hurray's executive officers and directors that own Shares currently intend to tender or cause to be tendered all Shares held of record or beneficially owned by them pursuant to the Offer.
You were correct JP. No guaranteebut they publically intend I guess.
QD has shown a knack for destroying the value of his personal schitthole. I have been following this piece of schitt for a couple of years now, and have learned that you can never understimate QD's ability to destroy sharholder value.
Not only did he manage to miss out on Enlight (apparently after he already signed the deal!) which we can see now is moving on and looking to go IPO on their own.
Then look at all the schitt music companies he bought - seems like the write offs are close to half the amount he spent on acquiring them.
Plus his uncanny abiility to lose millions playing in the forex market.
In any other company I would say the fat lady had sung. With QD at the wheel, however, it is never to late to pull failure from the jaws of success.
How about the thing has been rotten for two years and the maggots on the BOD need 6 years of liability insurance.
Stink, I guess maybe.
My opinion...risks are too high...but it would not surprise if someone else rolls up onto the scene.
I agree the best angle is with SNDA and only a small risk of blowing up the deal. I am a little surprised by SNDA getting so cozy with this giving its obvious smell.
I really thought they would take it out at a price where no one could complain and all sins would be washed away buy the gracious final offer.
And,even at that level it would have been a steal. I think its very difficult for them to offer more now without a significant counter offer from another party . The SEC statement and insiders tendering is pretty key. They even go the extent of telling us directors are insured for 6 years. Why all the info now? Looks like a Once upon a time story that is way to late for all their shareholders.
This company for whatever reason hated its shareholders...I have no idea why..somehow we were the problem??????????????? I have never seen anything like it.
We get no real info for 2 years on the big swoon and no buyback and now we get it all. Just a little weird. Not to mention, rumors flashed through the china press very accurately but Hray felt it necessary to never disclose anything? Then when it is disclosed it mirrors the chinese press records? Come on how does this happen and why?
I think the SEC is already barking at their heels. That is why I am out; that risk is to high for me. It would be my luck they actually do their jobs the one time it puts the phucks to me. But, its probably a safe bet they are asleep at the wheel.
I hope you hang and it pays big and QD ends up in jail. The last part being my hope. I would love to send him a Christmas card with his azz in the big house.
If nothing else, Tung taking another abusive swing would make my day. He was pretty right about many things.
Its a strange thing but every logical obvious sign says Hray is done.. but their MO has been to mislead all along so is it a double, triple ,quadruple cross? I just looked at one of the lots I bought 18,000@ $1.60. I also saw some $6.15; $6.09; so..the ride and the games I saw played were probably worth more then I made. I can honestly say...I felt very confident it was a meditated BS scam that Hray fully authorized. The buyback is the only defense...the big gun was never even fired? Thats just incredible.
This just proves that the Shanda deal is great for shareholders. All of the guys who know the most about the deal are tendering all their shares. It must be a great deal or they wouldn't tender everything.
Also, the directors unanimously recommended the deal so it must clearly be better than any of the other offer the company got.
from the 14D:
"On June 15, 2009, four incumbent directors, Qindai Wang, Songzuo Xiang, Thomas Ng and Shudan Zhang, delivered their resignations to the Board, effective upon the closing of the Offer."
"Shanda and the Purchaser will also cause the Company, for six years after the completion of the Offer, to provide officers' and directors' liability insurance in respect of such acts or omissions covering such directors and officers on terms no less favorable than the officers' and directors' liability insurance policy of Shanda in effect on June 8, 2009 or, if substantially equivalent insurance coverage is not available, the best available coverage subject to a cap on the premium of such policy. In addition, Hurray has a right to purchase such officers' and directors' liability insurance prior to the completion of the Offer."
"To the Company's knowledge after reasonable inquiry, all of Hurray's executive officers and directors that own Shares currently intend to tender or cause to be tendered all Shares held of record or beneficially owned by them pursuant to the Offer."
All of the insider directors are jumping ship, resigning from the board, selling all their shares, and request SIX YEARS of liability insurance. What do they know that they aren't telling us?
Something is rotten in the state of China