Sentences with phrase «subsequent immediate termination»
Not exact matches
BA Value Investors has disclosed a 5.1 % holding in VaxGen Inc (OTC: VXGN) and, in a letter to the board of directors, called on VXGN to «act promptly to reduce the size of the board to three directors; reduce director compensation; change to a smaller audit firm; terminate the lease of its facilities; otherwise cut costs; make an immediate $ 10 million distribution to shareholders; make a subsequent distribution of substantially all the remaining cash after settling the lease termination; distribute any royalty income to shareholders; and explore ways to monetize the public company value of the Issuer and use of its net operating losses.»
https://greenbackd.com/
BA Value Investors had previously disclosed an activist holding and, in a June 12 letter to the board, called on VXGN to «act promptly to reduce the size of the board to three directors; reduce director compensation; change to a smaller audit firm; terminate the lease of its facilities; otherwise cut costs; make an immediate $ 10 million distribution to shareholders; make a subsequent distribution of substantially all the remaining cash after settling the lease termination; distribute any royalty income to shareholders; and explore ways to monetize the public company value of the Issuer and use of its net operating losses.»
VXGN has now also attracted the attention of BA Value Investors, which has disclosed an activist holding and called on VXGN to «act promptly to reduce the size of the board to three directors; reduce director compensation; change to a smaller audit firm; terminate the lease of its facilities; otherwise cut costs; make an immediate $ 10 million distribution to shareholders; make a subsequent distribution of substantially all the remaining cash after settling the lease termination; distribute any royalty income to shareholders; and explore ways to monetize the public company value of the Issuer and use of its net operating losses.»
As for group risk; if each subsequent actor resulted in the immediate termination of prior actors, then you would likely never have more than one or two in jeopardy.