Filing: R/S REJECTED By HHSE Shareholders & Management
OTC DISCLOSURE AND NEWS SERVICE
COMPANY INFORMATION AND DISCLOSURE STATEMENT
HANNOVER HOUSE, INC.
MANAGEMENT DISCUSSION & SHAREHOLDER AGENDA ITEMS REGARDING LISTING, SHARE STRUCTURE & STRATEGY
FILED: June 3, 2012
UPDATED: 11:00 pm PST
"I-a). SHARE STRUCTURE – As previously disclosed, Company has been active in structuring a corporate financing venture with a California based media financing company. The initial proceeds from this venture, if enacted, would provide approximately $1-million to the Company under a 1-year note, secured by authorized (but not issued) stock shares. The advisor structuring this opportunity for Hannover House has recommended that the Company would benefit from – and should therefore consider – some form of a “reverse-split” of shares, in order to reduce the total Share float, and increase the PPS.
"UPDATE: 11:00 pm, PST – The Company posed this idea to shareholders via a disclosure filing at 4:00 pm PST today, and it was swiftly and unanimously REJECTED by a majority of shareholders within only six hours. Shareholders representing approximately 72% of the total outstanding common stock in HHSE contacted Hannover House managers on Sunday evening, June 3, 2012 in a unanimous and vigorous rejection of any discussion or plan structure involving a reverse-split of the stock.
"The Hannover House management is appreciative of the feedback of shareholders, and has agreed to immediately withdraw from consideration any deal structures involving a reverse-split of the Company stock. Management remains committed to seeking shareholder feedback and approvals for any significant development or opportunity. To be clear: a majority of shareholders have rejected any corporate action or stock restructuring involving a “reverse-split,” and this issue is formally off-the-table for any form of consideration. The shareholders and managers see no benefit whatsoever to such a move. Hannover House managers work for the shareholders and the good of the Company, and remain fully responsive to legitimate and reasonable feedback from verified shareholders. We thank our shareholders for their support and timely response to this outreach agenda item today, which shall be recorded as formally rejected and summarily withdrawn from consideration in all financing ventures under consideration...(more)
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Jim
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