Rago,
That a good question. For information we have 2 similar groups PSU (Probe Shareholders United) for PRB and KSU (KWG Shareholders United) for KWG. However, their main objective is to SUPPORT management, as appropriate. As a consequence their jobs are easier than our (challenge management). Of course, the secondary objective is to avocate "improvement", but they have not push this too hard...it's there though. PSU and KSU just wanted to get a foot in the door first, and WOULD try to avoid getting too much in the CEOs hair (taking the soft approach for suggested improvements)
- PRB: Management has 10%OS; PSU has 13%+OS; total = 23%+OS. If we have the support of another 10.4%OS the combined voting strength would be greater than 1/3. Letter has been sent to management. Note: The top 5 institutions have 32%OS of PRB.
- KWG: Management has 2%OS; KSU has 10%+OS; total =12%+OS. Letter being drafted for comments (simpler letter), but contact has been made with management and they are aware (and quite supportive) of what the group is doing.
In our case (FNC), we haven't yet got the info on our voting strength. At least, it's my understanding.
goldhunter