New SEC filing makes RIBT takeover target more lik
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New SEC filing makes RIBT takeover target more likely, or big partner coming in.
from a Yahoo poster who is an SEC form specialist>>
Koppes told Z on Monday he was not standing for election but will remain for full term.
I look at this as one several things, all point to a sale, which is a good thing in relation to current share price.
Koppes could have decided no need for him to remain since company will be sold soon or at least a new company will become a holder of over 50%.
Koppes could have resigned because Baruch secured a majority of the BOD agreeing to put the company up for sale, either to him or to other bidders that would pay more. This could have meant JS is 100% behind sale so he can cash out his warrants for a nice payday.
Koppes had been siding with two others (maybe JS and Henk) to block Baruch's desire to move forward with a sale transaction to him or a competing bidder. His decesion to not stand for election was accompanied with an agreement to not vote on the issue, giving Baruch's side a 3 - 2 majority vote to move on a sale transaction. I view this as least likely of the three.
I don't know any point above to be a truth or a fact. It's my speculation.
Waiting for 8-K on BOD committee to see if they add more but I suspect an IB is hired before the end of the month.
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