Replies to post #264789 on Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[marketbear]

Lloyd Fan said that he recieved Frank Olsen's stock.......about 182-184 Billion shares, I'm not sure of the exact #, but it was more than half of the 350 Billion outstanding. That leaves, maybe 170 plus Billion shares outstanding IN ADDITION to Mr. Fan's shares, not 80Bb shares.

[marketbear]

Re: "some of us won't let go of our shares." I don't think you understand how this works. YOU dont' have to agree to the sale. If enough shareholders vote to sell, it sells. If you don't tender your shares, they just become worthless and you are issued new shares, like it or not.
I have to admit, I don't remember if a simple majority of shareholders is enough..........perhaps someone can tell me.
IF a simple majority is enough, Lloyd Fan can do it alone.........as he holds more than 50% of the outstanding shares.

[old_timer99]

ttgop, there can be no merger between TMM and Cinemax because TMM no longer exists. QBID is TMM's trading vehicle. What can happen is that Cinemax can acquire the trading vehicle to make Cinemax a publicly trading company. That requires Cinemax to make QBID shareholders a tender offer.
Frank Olsen's shares were not "retired". Frank converted his shares to preferred to partake in the liquidation of assets.