Replies to post #84487 on ERHC Energy Inc (ERHE)

[dbernet]

Between S Freed and Oily, the suggestion I got was a purchase of .5 to .6 of Offer's shares, and the voting rights to the rest of his shares. If MPE did that, it would give them control of the company. They would need only one if five shareholder votes to agree with them in any decision (less any shares they pick up in the open market). Given MPE's resumes, I would be pleased. Instant oil professional oversight and "help" with selecting new company officers.

Most of the speculation on this board has been far afield in my opinion, but this set of circumstances is a little too convergent to dismiss. Great research posted in the last 24 hours. Thanks to all.

db

[Spec29]

Voting control can also be gained by...

purchasing shares on the open market in a hostile takeover.

[Art2004]

Hi Rocky,

I'm sure everyone appreciates all your reading and research. I have called the SEC on occaision and asked their officials a direct question to which I did get a rational aanswer.

From what you posted that day, it did appear that a private sale would result in the buyer having restricted shares and that was one method to NOT achieve voting control of a public company.

The restricted shares could be re-sold on the restricted shares market but not publicly traded and it not grant voting control.

Perhaps it would be worth a phone call to the SEC to see if a private sale of stock by a large shareholder could be used to establish a new voting control for the company.