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Mission Produce Inc T.AVO


Primary Symbol: AVO

Mission Produce, Inc. is engaged in the farming, packaging, marketing, and distribution of avocados to food retailers, distributors and produce wholesalers. It operates through three segments: Marketing and Distribution, International Farming, and Blueberries. Its Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. Its farming activities range from cultivating early-stage plantings to harvesting from mature trees. Its Blueberries segment is a farming operation that cultivates blueberry plants in Peru. It provides value-added services including ripening, bagging, custom packaging, logistical management, and quality assurance. The Company also provides its customers with merchandising and promotional support, insights on market trends and hands-on training.


NDAQ:AVO - Post by User

Comment by stevco93on Mar 07, 2018 12:48pm
197 Views
Post# 27676515

RE:RE:RE:More on 2017 results

RE:RE:RE:More on 2017 results snootchybootchy - the shares Fernandes holds will be excluded from the vote as he was determined to be receiving "collateral benefit" under MI 61-101 (minority approval rules).  See pages 67-68 of the Information Circular.

This is probably for the best as I don't see Fernandes voting against a deal that sees him walk away with $158,430,160 (share value he holds, plus options and RSUs that will immediately vest upon deal completion).  In addition there is the "Fernandes Amendment" which gives him another $5.4 million for releasing any future legal claims plus $5000 a day for any consulting he may do for the company after the deal is done.

So from my calculation, the remaining insiders hold about 8.2% of the outstanding shares, institutions hold around 21% and the remaining 60% are held by the general public.  So it really all depends on how we as individual investors vote.

As for myself, I will likely vote no.  This deal seems to have been done simply to benefit the insiders (pages 62-67 of the circular). Plus I don't see Motorola walking away, especially after the 2017 results that just came out.  We should be able to squeeze a few more $$ a share out of them!
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