How Easy Is a Tyhee Takeover. Webb on Tyhee´s Shareholder's Right Plan.
posted on
Jun 20, 2011 01:53PM
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The question of how much of a "poison pill" is Tyhee´s Shareholder´s Right Plan was raised by Mr. Viti last year. Dave Webb then provided his perspective, paraphrased below.
The Shareholder's Right Plan should be read by investors, who can then decide whether to vote for it. The Plan says anyone who wishes to take over Tyhee can do so, however:
1) The takeover bid has to treat all shareholders equally (i.e., you can't pay one price for control, and then pay a different (lower) price to others.
2) The offer has to be open for 60 days (not 30 days), and
3) the bid has to be for at least 50% of the shares, and
4) You can't do a creeping takeover (i.e. buy 2 to 3% a week for several months. The shareholders who voted and approved of this plan did not believe it placed an unfair onus on an acquisition. In fact, most shareholders’s considered this a good idea, including all of our major shareholders (except one).
http://agoracom.com/ir/Tyhee/forums/discussion/topics/423126-the-serious-concerns-of-a-very-influential-tyhee-investor/messages/1388480#message