PRB Share Count
posted on
Apr 30, 2012 02:08AM
Hey folks,
We have urged our management/Dave and the BoD to get out there to defend our cause just in case some shark decides to have a run at us.... and gobble us up on the cheap.
Perhaps, there would be some merit to do our part to have a block of votes that could be used against a compulsary tendering process. This would signal to management for our support strength, and potential predators that there is a block of votes to be reckoned with. It's always good to count the management and BoD as well, since often they control a good chunk of votes. But to be on the conservative side, we should try to get 10% by ourselves, just in case the BoD decides to sell out, haha...they would never do that, no?
This count is similar to what has been done on the KWG Board and the folks there have more than 10% of the OS (management has an additional 2.1%, but they also have a lot of options and wts). See link below for KWG example.
For PRB, the OS is 65M shares, hence 10% = 6.5M shares = 65 x 0.1M shares each.
I think it would be doable for about 100 die-hard retail shareholders (with about 100k shares each) to form this 10% block. It's a voluntary and hornour declaration, just like what has been done with KWG.
In addition to the PRB management block (anyone know how many shares under their control?) we should also compile a list of players who control large voting blocks, so we would know who-is-who.
Any volunteer for this share count keeper?
goldhunter (need a rest from doing the same for KWG)