GREY:OLEPF - Post by User
Comment by
run2goldon Apr 11, 2012 10:44pm
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Post# 19783857
RE: Termination payouts
RE: Termination payouts Goldfather,
Termination payouts for change of control (sale) were approved in October and mentioned here on page 6: https://www.oromin.com/i/pdf/OLEMDA111130-Q3.PDF
As to the timing, the payments will happen when the sale officially closes. They are "termination payments" because many of the directors and management will no longer have jobs once the property is sold. The majority of the money isn't going to Chet. It's going to more than 10 other people.
The stock will move up well before official close of the sale, because it will be signed and announced prior to official closing.
Window to buy at these prices is closing very fast...