Pulled this off Yahoo board about HC.
ITEM 4
In connection with the transactions contemplated by the Underwriting Agreement
dated March 15, 2001, among Hanover, JEDI, et al., JEDI sold 1,173,344 shares
of Common Stock of Hanover. The amount of securities thus beneficially owned by
Enron is 4,350,556 shares of Common Stock, of which 1,748,689 shares are
presently held directly by McGarret XIV and 2,601,867 shares are presently held
directly by AES Holdings. As part of its organizational activities, Enron may
from time to time transfer such shares among its subsidiaries and controlled
affiliates, with Enron retaining sole voting and dispositive power with respect
to all of such shares.
sec.gov 501810.txt
That's 9.8% of the float needing to get liquid if I read this right
Plus, in the now infamous internal Enron memo, there's this:
"Raptor looks to be a big bet if the underlying stocks did well, no one would be the wiser. If Enron stock did well, the stock issuance
to these entities woudl decline and the transactions would be less noticeable. All has gone against us. The stocks, most noticeably
Hanover, New Power Company and Avici are underwater to greater of lesser degrees."
I believe this is a different "Hanover" (Anyone confirm?) But who knows, the name alone in the document could also trigger a sell. |
