Riverstone got 51m shs when SD purchased Dynamic Offshore (producing 25k bbl/day) for $680m and 74m shr at $8.02, must have sold some? Was a good deal, no?
Riverstone still had 51m shares at the end of December 12. You would think they will vote to increase share price....which translates to Ward and the Board OUT!
I think they are restricted for a period of time. I don't know if that restricts their vote but I believe that it does. I read the details of the stock transaction and there is verbage that indicates restricted voting.
In my opinion I think they support TW. They haven`t sold a single share since the whole thing started with TPG because they're probably counting on something bigger.
Or at least 5 board members