STOCK REPURCHASE PLAN? SEE ATTACHED...
i just got this in my email. i have no idea what it's about as hvae had no prior info. anyone know?????
Share Repurchase UpdateSaturday, February 18, 2012 2:53 PM
From: "8000 Inc" <8000inc@tbgfund.com>Add sender to Contacts
To: 8000inc@tbgfund.com
Dear Shareholder,
This is a brief update which I am sending to the 158 recorded shareholders who have already contracted or agreed to participate in the Off-Market Share Repurchase Proposal of the issued stock of 8000 Inc (EIGH.pk).
Our research from the Company records, from the Transfer Agent records and the published shareholder reviews undertaken by the Company during 2011 indicates that the total number of current shareholders of 8000 Inc is thought to be 742.
The total number of shares belonging to the 158 shareholders receiving this email is 130,179,081 or thereabouts.
The total number of shares issued by the Company and available in the float is 143,824,000, which includes 13MM shares restricted and recalled shares representing the withdrawn Sky Villas and Southbridge and declared in 2011.
As has been stated all corporate attempts to progress commercially as a listed company have been to no avail. Therefore we believe the only feasible way forward is to privatize the Company by completing this stock buyback program. This is possible as Company already holds a majority of over 67% of the issued shares.
The Company has contacted the DTCC (Depository Trust & Clearing Corp) with reference to the Company’s ability to undertake this transaction electronically and they have confirmed that if the broker is a DTCC participant and uses DTCC custodial Services for their 8000 Inc client positions, then the DTCC can undertake this transaction electronically. This avoids any fees associated with physical certificate delivery and the extended time that process would take. Confirmation of this fact has now been demonstrated by certain Brokers who have already provided this service to their clients.
The Company expects to close the offer to participate on Monday, February 20, 2012, at 5:00 pm. EST.
We would ask that if you still intend to participate, that you make sure you have sent in all the fully completed and signed requested paperwork forthwith, as our next step in moving forward will be to issue a formal PR Tuesday, February 21, 2012. If you have not received any documentation necessary to complete the transfer please contact me immediately at this email address.
Jonathan Bryant
8000 Inc
