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Technology Stocks : XO Holdings, Inc. (XOHO - XO Communications)

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From: tech101	7/15/2009 8:26:56 PM
	of 615

investorvillage.com Msg 995 of 995 at 7/15/2009 3:51:21 PM by homersimpsonbush UPDATE: www.XOShareholdersCommittee.com Thanks for the overwhelming response to this effort. I am sincerely moved by the stories of personal and financial hardship ownership of XO has inflicted on many of you and your families. I hope this effort helps many of you. I also want to apologize to those who have sent me personal emails which I have not responded. Hopefully you understand the potential liability that I am exposing myself to and the reasons why I can’t answer your emails. I have already sent out letters to all members of the Board of Directors of the company. They have been informed about this grass roots effort to help improve governance at XO and block the sale of the minority stake of the company to Mr. Icahn for $0.55/share. Some of the points made: - The current price of the stock price does not reflect the true value of the company. I think XO senior managers explain the reasons quite accurately: ".... Because our stock is traded over-the-counter and not on a major stock exchange, very few investment firms can hold our stock. In addition, our stock is thinly traded with a majority of the outstanding shares held by our Chairman, Mr. Carl Icahn. These factors contribute to our stock’s volatility. While numerous factors impact a company’s stock price, we do not believe that our current stock price is a proxy for the financial and operational performance of our business or our ability to successfully grow our business. Our financial position is strong...." Dan Wagner (XO President Business Services)in a letter send to XO’s Business Partners on 4/18/09 -Both warrants and preferred notes series A should not be considered in a vote regarding the sale of the common stock to Mr. Icahn. This is because they have no economic stake in the sale (warrants being so way out of the money right now and preferred A just about to be repaid in cash at face value) and because of the history of transactions between Mr. Icahn and the holders of the minority stake in the preferred As which create some very real conflicts of interest. -I have received commitments of financial support to hire counsel for the effort. -Independent directors will be held accountable and liable for their actions. The attorney representing them personally in the R2 v Icahn suit has also been notified of our efforts (I found him on the NY Supreme Court website). I will keep you posted as things progress. Sorry If I can’t talk to you individually. Do do keep me posted on the share tally.

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