That would be a very sly interpretation of "ZULU shareholders", don't you think, Brady?
The Investor's Preferred are newly-issued shares. They aren't being exchanged for existing ZULU shares. Ditto, the existing Netvest shares are shares in ESVS, not ZULU.
I guess you could stretch, and say that, if Asian Trust and Netvest ALSO happen to be ZULU shareholders, that "existing ZULU shareholders" could hold 73%.
But it's a gerrymander type of definition, don't you think? I mean, you could apply that definition if Netvest and Asian trust held only 1 share of ZULU each. It's not proportional to their holdings in ZULU.
Yea, Pat owns some ZULU, and he winds-up owning 57.3% of the new company. So "former ZULU shareholders" now own 73%. (e.g. Pat plus other holders in both companies, plus holders of ZULU shares.)
LOLOLOLOL!
No, the fact is, that the current ZULU shares will be converted into less than 20% of the resulting company's shares. That is the number that matters, not this phoney-baloney 73% number! |
