Signature Group Holdings Announces Settlement Agreement with New Signature LLC
First of all---told you. Reasonable business people settle.
Second of all, we finally have the interests aligned properly. These people have real skin in the game. They paid for their shares. They aren't granting themselves shares and options with ratchet down clauses and then milking the company for salaries and perks.
So now expect things to start happening. Even then it'll probably take another 6 months to a year to put something together--unless it's already been in the works and just on hold until this absurd proxy battle settled.
Without being argumentative , how did you determine the new group has such aligned interests vs the prior group? Raj and his boys showed apx 4m owned and purchased shares per their material. The prior or company slate had also purchased and owned more shares. Some no doubt due to option grants and BOD grants , but many paid for an purchased going back to the days of the scrum coming out of the BK court. Just asking. I do concur they are aligned to perform and what they do show was mostly purchased shares.
Interesting to note that 2 weeks ago the consensus view was Raj and co did not have anywhere near the owned shares relative to the company slate and their share count. One can only conclude that a number of large shareholders concluded Raj and co had a better program and the SGGH buys looked into the future and concluded they were in deep trouble. A year ago McIntyre and his group had a far superior share count yet got beat by Mgmt's group. This would seem to be a complete reversal based on the share data known.
The takeaway as you noted is that the Raj group has a compelling plan which resonated with the larger shareholder base . The next 12 months should be interesting.