ITV Takeover Looms as Mediaset, RTL, Saban Eye BSkyB's Money-Losing Stake Sep 11, 2008
Isleworth, U.K.-based BSkyB has offered to put its ITV shares into a voting trust or refrain from voting them to avoid selling. U.K. Competition Commission spokesman wouldn't comment on the timing of a final ruling. (Bloomberg -- Europe)
Slashing profit forecast, CPR embraces efficiency Jul 23, 2008
A notable growth prospect is CPR's Dakota Minnesota & Eastern Railroad Corp. unit, currently held in an independent voting trust. CPR expects to hear by Sept. 30 from the U.S. Surface Transportation Board whether it will approve the railway's $1. (Globe and Mail -- Business)
Acquisition of additional subordinate voting trust units of Contrans Income Fund Jun 26, 2008
TORONTO, June 26 /CNW/ - Pursuant to the distribution reinvestment plan of Contrans Income Fund ("Contrans"), Stanley G. Dunford acquired 4,725 subordinate voting trust units of Contrans, or approximately. 02% of the issued and outstanding subordinate voting trust units of Contrans ... The subordinate voting trust units were acquired at $8. (Canada Newswire)
Modelo CEO resigns from Anheuser board Jun 20, 2008
Modelo is family run, and analysts have said it seems unlikely that the family voting trust, controlled by Fernandez's uncle and the family patriarch, Antonino Fernandez, would sell out to Anheuser-Busch. Recommend this article. (Globe and Mail -- Business)
Mexican brewer could be spoiler in beer deal Jun 17, 2008
Fernandez's uncle - the family patriarch, Antonino Fernandez - controls Modelo's family voting trust and has the last say on all major business decisions for the company, which was founded in 1925. A Credit Suisse analyst, Tufic Salem, said Modelo could "go solo" and buy back its stake from Anheuser or InBev if a deal was struck. (International Herald Tribune -- Business)
Anheuser in Deal Talks With Grupo Modelo Jun 13, 2008
Inc. (BUD)) at SmartMoney. " Without help from Modelo, Anheuser appears to have limited options for evading the InBev bid. Modelo's Mr. Fernandez would have a significant role in an Anheuser-Modelo deal, according to one person familiar with the matter. Yet in seeking a Modelo deal, Anheuser management must walk a fine line. Pushing for a deal too hard could upset shareholders, who probably wouldn't have a vote on the matter. MORE ON STOCKS FROM SMARTMONEY.COM Moreover, Modelo would have to cede... (SmartMoney)
P.M. Bull Holdings Ltd.: News Release May 17, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2008) - P.M. Bull Holdings Ltd. ("Holdings"), acquired control over 104,000 Class A voting trust units in the capital of Hardwoods Distribution Income Fund (the "Class A Units"), representing approximately 0. 7% of the issued and outstanding Class A Units on October 24, 2007. (CCNMatthews Press Releases)
Advantage Announces 1st Quarter Results 2008 May 15, 2008
The depletion, depreciation and accretion ("DDovision has increased 20% for the three months ended March 31, 2008 compared to 2007 due to considerable increases in daily production volumes, mainly from the Sound acquisition. On a per boe basis, DDonly increased 4% as increases in our fixed assets from prior acquisitions and development activities have resulted in proved reserve additions similar to prior experience. We evaluate the recoverability of our petroleum and natural gas assets each... (PR Newswire)
Judge lets stand settlement tied to Mile High Capital case Apr 1, 2008
Nottingham said that Coles "failed to present sufficient evidence that [Dryer] dominated and controlled RPS." Indeed, Coles testified in bankruptcy court that RPS lacked a voting trust of any kind. Pages: 1. (Denver Business Journal, CO)
Virgin Media to appeal British ruling on BSkyB's ITV stake Feb 26, 2008
BSkyB, in which News Corp. holds a 39 percent stake, had proposed that it be allowed to keep the stake and said it would answer the commission's concerns by either putting the shares in a voting trust or by not exercising its voting rights. BSkyB paid 940 million, now worth $1. (International Herald Tribune)
Mayo Clinic claims 'disconnect' between CPR, unit Feb 1, 2008
CPR placed DM&E into an independent voting trust last October, after it completed buying the regional railway for $1. 5-billion (U.S.) from a group of private equity firms. (Globe and Mail)
BSkyB ordered to cut ITV stake Jan 29, 2008
BSkyB had offered to put all its ITV shares in an independent voting trust which would have complete freedom over voting decisions, but the government decided this would need continual monitoring. (Reporting by Kate Holton; Editing by Quentin Bryar, Paul Bolding). (International Herald Tribune -- Business)
BSkyB Ordered by Government to Cut Stake in Broadcaster ITV to Below 7.5% Jan 29, 2008
BSkyB proposed that it either put the shares in a voting trust or promise not to exercise its voting rights to be allowed to keep the stake, the report said. A sale of the stake would be ``far beyond'' what is required as a remedy, BSkyB argued in October. (Bloomberg -- UK)
Suite Life For Larry Ellison Dec 20, 2007
To eliminate any conflicts of interests, Ellison's shares have been placed in a "lockbox" or voting trust, that will eliminate Ellison's voting control over company matters "other than a change of control transaction, dissolution, sale of substantially all of the Company's assets or liquidation" as long as Ellison remains an officer or director of Oracle (nasdaq: - - ), according to regulatory filings. Of course, even if NetSuite stumbles, Ellison has already profited from the trend toward... (Forbes -- Technology)
Watchdog says BSkyB should cut ITV stake Dec 20, 2007
1 per cent owned by News Corporation, parent company of The Times and Times Online, had proposed that it should place all its voting rights in ITV in a voting trust or that it undertake not to exercise the entirety of its voting rights. The Competition Commission said it had concerns about enforcing these remedies and concluded that they would not effectively address the competition problems. (Times Online)
Levi's Chairman To Retire Dec 13, 2007
The company is controlled by a voting trust reflecting the financial stakes of different branches of the family. The largest single stake is held by Haas' cousin Peter E. Haas, Jr., with 27. (San Francisco Chronicle -- Business)
Canadian Pacific posts strong third quarter earnings Oct 30, 2007
The purchase is subject to review and approval by the U.S. Surface Transportation Board ("STB"), during which time the shares of DM have been placed in a voting trust and are administered by an independent trustee. The Company anticipates that the STB will complete its review and provide a final ruling during 2008. (PR Newswire)
Tracing Silicon Valley's roots Sep 30, 2007
In exchange, Camera and Instrument controlled the company through a voting trust and received an option to buy all of Fairchild Semiconductor's stock for $3 million. It was, as one founder put it, "a very good deal for both sides.". (San Francisco Chronicle -- Business)
Canadian Pacific announces agreement to acquire DM&E Railroad Sep 5, 2007
The CP/DMsaction is subject to review and approval by the U.S. Surface Transportation Board (STB), during which time the shares of DM be placed into an independent voting trust ... The voting trust is required by US law so that CP does not exercise control over DMr to approval of the transaction by the STB. Conference Call Fred Green, President and CEO, Mike Lambert, Executive Vice President and CFO and Kathryn McQuade, Executive Vice President and COO, will be available to discuss this... (PR Newswire)
A crack in the Torstar trust? Aug 13, 2007
The Thall family announced last week it would be selling some or all of the family's non-voting shares, sparking questions about whether this is the first crack in the voting trust that for 50 years has owned the Star and other media properties ... But that would mean the breakup of a voting trust whose origins can be traced to 1948, when the death of Toronto Star publisher Joseph Atkinson plunged the newspaper into an ownership crisis - and a fear that the hallowed Atkinson principles of social... (Globe and Mail -- Business)
Peyto Energy Trust announces second quarter 2007 results Aug 9, 2007
" The Trust has adopted these standards retroactively without restatement and the comparative interim consolidated financial statements have not been restated. Transition amounts have been recorded in retained earnings or accumulated other comprehensive income ("AOCI"). See Note 2 to the Consolidated Financial Statements. The Trust is a party to certain off balance sheet derivative financial instruments, including fixed price contracts. The Trust enters into these forward contracts with well... (PR Newswire)
What if press baron Conrad Black returns? Jun 18, 2007
Among the remedies it is seeking in its civil case is to "impose a voting trust upon the shares of Hollinger International held directly or indirectly by Black and Hollinger Inc." If that were to happen, a judge would decide who had the right to vote Black's shares. However, that remedy is very unusual and a judge might not grant it. (Chicago Tribune)
Rogers Media to Acquire Citytv Stations from CTVglobemedia Inc. Jun 12, 2007
TORONTO, June 11 /PRNewswire-FirstCall/ - Rogers Media and CTVglobemedia Inc. ("CTVgm") today announced an agreement under which Rogers Broadcasting, a Rogers Media subsidiary, would acquire five Citytv conventional television stations from CTVglobemedia Inc. These assets are currently under the control of Mr. John D. McKellar, C.M., Q.C., Trustee under a Voting Trust Agreement in respect of CHUM Limited. The transaction is subject to Canadian Radio-television and Telecommunications Commission... (PR Newswire)
Sprott Molybdenum Participation Corporation Announces Option Agreement to Acquire Shares of Inca Pacific Resources Inc. May 28, 2007
The Corporation has also entered into a voting trust agreement with Inca pursuant to which the Corporation will agree to vote any Inca Shares it holds in excess of 20% of the outstanding Inca Shares in favour of matters management brings before the shareholders. The agreement has a term of one year and is renewable for successive one year terms. (Canada Newswire)
U.S. gives final approval for Virgin America May 19, 2007
In response, Virgin America promised that before it began flying it would change loan agreements and remove certain powers of Virgin Group; revise its trademark to ensure independence from Virgin Atlantic and establish a voting trust to administer Virgin Group's equity interest in the airline. U.S. gives final approval for Virgin America 1. (ABC News -- Wire)
Advantage Announces 1st Quarter Results, Conference Call & Webcast on May 14, 2007 May 12, 2007
The depletion, depreciation and accretion ("DDovision has increased 113% for the three months ended March 31, 2007 due to the 64% increase of daily production volumes mainly from the Ketch acquisition. The DDboe has increased by 30% for the three months ended March 31, 2007 compared to the prior year. The higher DDboe was due to a higher valuation for the Ketch reserves than accumulated from prior acquisitions and development activities. Taxes Current taxes paid or payable for the quarter ended... (PR Newswire)
Graybar CEO Reynolds' earnings top $1M in '06 Apr 21, 2007
The privately held firm's voting trustees filed an annual report Thursday with the Securities and Exchange Commission. Graybar is 100 percent owned by its active and retired employees, with substantially all of its issued and outstanding common stock held under a voting trust agreement ... Total compensation listed for the trustees of the voting trust includes salary, bonus, cash compensation and director's fees, according to filing. (St. Louis Business Journal, MO)
Advantage Announces Release of Fourth Quarter and Year Ended December 31, 2006 Financial Results and Reserves Mar 23, 2007
Unitholders' Equity (a) Unitholders' capital (i) Authorized Unlimited number of voting Trust Units (ii) Issued Number of Units Amount --------------------------------------------------------------------- Balance at December 31, 2004 49,674,783 $ 515,544 2004 non-cash performance incentive 763,371 16,570 Issued for cash, net of costs 5,250,000 107,616 Issued on conversion of debentures 783,870 13,139 Issued on conversion of exchangeable shares 1,374,300 28,705... (PR Newswire)
Sovereign shareholder wants voting power to match holdings Mar 19, 2007
The 5 percent has been held in a voting trust. It is required by a 2005 investment agreement to vote them in the same proportion as shares held by others. (Philadelphia Business Journal, PA)
Zargon Energy Trust Announces 2006 Fourth Quarter and Full Year Results Mar 14, 2007
The Trust is authorized to issue an unlimited number of voting trust units. Trust Units December 31, 2006 December 31, 2005 --------------------------------------------------------------------------- Number of Amount Number of Amount (thousand) Units ($) Units ($) --------------------------------------------------------------------------- Balance, beginning of year 16,355 71,644 15,341 45,755 Unit rights exercised for cash 208 4,018 153 2,723 Unit-based compensation recognized on exercise of... (CCNMatthews Press Releases)
Virgin America Finalizes $30 Million in Additional U.S. Investment Feb 15, 2007
These changes further demonstrate how Virgin America is free to fly with or without the Virgin brand name; -- Agreement by Virgin Group to put its minority 25 percent voting shares in a voting trust with a DOT approved U.S. trustee (U.S. citizens already control the other 75 percent), and -- Agreement by both of the U.S. investment funds, Cyrus Capital and Black Canyon, to limit investors to only U.S. citizens. About Virgin America: Virgin America, a U.S.-owned and operated 'new generation'... (PR Newswire)
Beacon Capital Partners, Inc. Declares Dividend of $0.65 Per Share Jan 27, 2007
65 dividend, the Company has distributed cash and securities from voting trusts valued at $30 ... 00 * Assumes BCP, Inc. shareholders maintained ownership of all voting trust units distributed, including the Wyndham Voting Trust units ... These statements include, among other things, statements regarding the consummation of the merger transaction and the benefits and consequences of the merger transaction and the extension of the term of the Voting Trust. (PR Newswire)
Virgin America Proposes Sweeping Changes to Get Their Wings and Bring Jobs, Choice and Savings to Consumers Jan 18, 2007
The key changes to the company include: * Virgin Group dropping a Board of Directors seat, so they now only hold two of eight voting seats; * despite being normal protections for a minority investor in a company, Virgin Group has given up veto or consent rights regarding various aspects of Virgin America's operations or decision making; * Virgin Group agreed to clarify and relax certain key terms in the Virgin trademark license to demonstrate how Virgin America is free to fly with or without the... (PR Newswire)
Changes as Virgin America seeks approval Jan 18, 2007
" The company has run into trouble over perceptions about its ownership. U.S. law requires that domestic airlines be at least 75 percent owned by American citizens. The company maintains that has been the case with Virgin America, which is 25 percent owned by the Virgin Group. But Department of Transportation officials maintained the company's intricate structure, which involves some Cayman Islands corporations, gave foreign interests more than the allowable amount of ownership. The government... (San Francisco Chronicle -- Business)
Virgin America says it will change for regulators Jan 18, 2007
To address those concerns, Virgin America said it will dump Reid if asked by regulators, eliminate one of the three board seats previously awarded Bransons Virgin Group, raise another $20 million from U.S. investors and place all of Virgin Groups shares in a voting trust supervised by a U.S. trustee to be approved by the government. The Department of Transportation also frowned upon the terms of the airlines licensing agreement with the Virgin Group, arguing it could provide another... (MSNBC -- Business)
CanWest Global Communications Corp. and Goldman Sachs Capital Partners Announce Agreement to Acquire Alliance Atlantis Communications Inc. Jan 11, 2007
Pending approval from the Canadian Radio-television and Telecommunications Commission ("CRTC") for the change of ownership and transfer of control of the specialty television channels, the securities of the relevant regulated entities will be deposited with a trustee pursuant to a voting trust agreement approved by the CRTC.. A special committee of the Board of Directors of Alliance Atlantis, comprised of Robert Steacy (Chair), Barry Reiter and Anthony Griffiths (the "Special Committee"), has... (Yahoo! Wire -- Entertainment News)
PTCH: Patch Announces Clarification of Acquisition of Damascus Energy Inc. and Completion of Private Placement Jan 6, 2007
Pursuant to an Exchange and Voting Trust Agreement entered into between Patch, Patch Energy and 1286664 Alberta Ltd. (the "Trustee"), the agreement stipulates the means by which (i) the holders of Exchangeable Shares will have voting rights in Patch; (ii) the Trustee will hold one (1) Class A Preferred Voting Share of Patch (the "Patch Preferred Share"); and (iii) the holders of Exchangeable Shares exercise their rights of conversion of the Exchangeable Shares, Patch issued one (1) Patch... (PR Newswire)
