RE:RE:RE:RE:RE:Is this whysolarman2013 wrote: I totally agree that its just noise..
Yeah thanks so much for your unsupported opinion(sarcasm).
As for whether the Applicants are minority shareholders the value of the prefs alone (i don't know what common stock they have) is worth half a billion which puts them over 5% and doesn't make them MINORITY.
I had to dig into the 2017 audited report to get the detailed story.
These prefs were mostly from the Blackrock and GSO capital partners group and given during in the acquisition of stars at a strike price of $24.
All the prefs are converteible to 59million+ common shares and the amount was multiplied by 1.03 twice yearly in January and August. So obviously Stars management group would like to end the 6% compounded biyearly dilution ASAP.
It was a good move for management to force conversion and its likely the applicants will not succeed in preventing the conversion.