RE: RE: management take money and run? The lack of a news release on the vote is strange. Normally the results are given the same day, or first thing the next morning at the latest. But this usually is because the vote went as predicted.
If the vote was rejected, what happens? Per the announcement, the KRG will get the property back without paying compensation. Longford then ends up with no assets and a bill for $27MM from the KRG. This means there is no money in the bank to pay those golden parachutes with. The management are probably scrambling to figure out how to sqeeze a few pieces of silver out before being tossed on the street.
Why would it have been rejected. Soros has 2.8MM shares, which would mean if passed he would receive $280,000 plus shares in a company with a net value of about the same. So he would end up with just over half a million. He then compares that to the $3MM plus being paid out to the band of brohers woh caused him to lose the money and just to spite them, writes off his last half million and votes no.
Shear speculation on my side, but I feel a lot better having sold out than crossing my fingers on this vote.