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WSP Holdings Limited

WH :0.78

WSP Holdings Limited, together with its subsidiaries, manufactures and sells seamless oil country tubular goods. The company offers American Petroleum Institute (API) products, which are the products manufactured according to the standards formulated by the API; and non-API products that are products tailor-made to meet customers? specifications. Its products include casing, tubing, and drill pipes that are used for oil and natural gas exploration, drilling, and extraction activities, as well as line pipes, green pipes, iron ore pellets, iron ore billets, and other unfinished products. The company serves oilfields in China, North America, South America, the Middle East, Asia, Africa, and Russia primarily through distributors and sales agents. WSP Holdings Limited was founded in 1999 and is headquartered in Wuxi, China.
No. of Employees: 3,857

Shares Outstanding: 20.44M
Float: 2.55M
Shortposition more than 1 million

Book Value Per Share (mrq): 5.86

Jun 26, 2014 0.92
Jun 23, 2014 1.00
Jun 10, 2014 1.24
May 30, 2014 1.92
May 29, 2014 2.13
May 22, 2014 2.21
May 15, 2014 2.50
May 9, 2014 2.65
Apr 30, 2014 2.75
Apr 16, 2014 2.83

http://finance.yahoo.com/news/wsp-holdings-limited-announces-termination-123000112.html

Dear ***

Following the announcement that the going private transaction was terminated, the company put out a news release stating that it has received notice from the NYSE that it is not in compliance with continued listing standards because it has not filed its annual report on Form 20-F on a timely basis. The Company is working on the audit and expects to file the 20-F in August 2014, which is within the standard 6 month window that the NYSE gives listed companies to regain compliance.


I have confirmed with management that they have not sold any shares, and that their holdings are consistent with the amounts reported on the latest Form 20-F.


Sincerely,

shareholders:
CEO Longhua Piao holds a (majority) 50.9% of the O/S, or 10.4 million shares.

UMW Holdings maintains a 4.6 million share position in WH, which is 22.5% of the O/S. Their cost basis is approximately $7 per share. Group CEO and President of UMW, Syed Hisham Bin Syed Wazir, is also Vice Chairman of WH.

Oaktree Capitol (OAK) holds 6.9% of the O/S, or 1.41 million shares. Oaktree Managing Director Dennis Zhu is also a WH Director, and is on the independent committee to review the going private proposal. Oaktree Capital is the world's largest manager of distressed debt. Other than Sina (SINA) and Melco (MPEL), Oaktree currently has no other US-listed Chinese investments.

Other institutional holders of include Credit Suisse (269K shares), Wellington Management Co LLP (268K shares), Prescott Group Capital Management LLC (142K shares), and other various funds holding small amounts totally 149k shares.