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Schneider says Premier's operating company should not remain public

Greggory Schneider disclosed a 6% stake in Premier Exhibitions (PRXI) this morning and said Premier's operating company should not remain a public entity. The filing stated, "Schneider would like the company to initiate a public and formal process for monetizing the operating company so as to ensure shareholders that they are receiving maximum value. Mr. Schneider believes the market is completely ignoring the value of the operating business and also misunderstanding the tax consequences of the Titanic transaction. With the Titanic assets well on their way to being sold for an amount that far exceeds the company's current market capitalization, Mr. Schneider believes the best way to reflect the company's true value is to immediately initiate a formal process to privatize or sell the operating portion of the business."