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NEULION, INC. T.NLN

"NeuLion Inc is a technology product and service provider that offers digital video broadcasting, distribution and monetization of live and on-demand content to Internet-enabled devices."


TSX:NLN - Post by User

Comment by mayorkghon Jun 08, 2016 11:06pm
183 Views
Post# 24949170

RE:RE:Shares in public float. Correct my math please.

RE:RE:Shares in public float. Correct my math please.That website doesn't make sense. If you go to the rather confusing table on page 27 of the management circular published on April 29th, you will see the beneficial owners of all officers as well as any entity holding more than 5%. According to the footnotes, there are overlapping beneficial owners and Li, Wang, Hale, and Kronfeld have disclaimed beneficial ownership of large blocks  held by Li, Wang, Parallax, and a few others on the list. When you subtract those it shows that insiders and companies they control, own about 71% of the common stock. This means that 29% is in public hands. Of the 71% seemingly controlled by insiders PCF1 has 22.58% and the two JK&B Capital holdings total 12.8%. Hale controls PCF1 and Li has a large pecuniary interest in JK&B. It would seem hard to argue that these holdings would be deemed to have minority shareholder rights (i.e. the true outsiders holding 29%) in any attempt by insiders to privatize the company at the expense of the small shareholders. I’m not an expert in Delaware corporate law so this is just my 2 cents. I do think it’s a little odd that they would be buying back a relatively small number of shares at the same time as they want to increase the permissible float by 200 million shares. 
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