Thanks,
I see that this is perhaps a credibility issue: The Management was unable to put together a deal in time despite having quite some potential incentives waiting.
Or, the deal stunk up that much as a whole that shareholders simply said no.
Sign of the times: Energy stocks may really deflate as the commodity is not that hot these days.
So, shareholders (be it mostly institutions) got impatient and they decided to pull the plug to take their money elsewhere.
Here are some CMAQ investors (together they have the majoriy of non insider votes and more than 2M shares). Well known names in the industry.
Name and Address of Beneficial Owner Ownership Percent of Class
North Pole Capital Master Fund(1) 465,500 8.8 %
372 Bay Street, 21st Floor
Toronto, Ontario M5H 2W9 Canada
Roger Feldman(2) 399,103 8.0 %
Harvey Hanerfeld(2)
1919 Pennsylvania Avenue, NW
Suite 725
Washington, D.C. 20006
Barry Rubenstein(3) 398,200 8.0 %
68 Wheatley Road
Brookville, NY 11545
DKR Capital Partners L.P.(4) 310,000 6.1 %
1281 East Main Street Stamford, CT 0902
Amaranth LLC et al.(5) 280,000 5.6 %
One American Lane
Greenwich, Connecticut 06831
Sapling, LLC(6) 275,000 5.5 %
535 Fifth Avenue
31st Floor
New York, NY 10017
Azimuth Opportunity, Ltd.(7) 258,500 5.2 %
c/o WSmiths Finance
Nemours Chambers
P.O. Box 3170
Road Town, Tortola
British Virgin Islands
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