To: StocksrStocks who wrote (144028 ) 5/3/2005 8:38:56 AM From: rrufff Read Replies (1) | Respond to Just wrong and moronic I'm not blind nor deaf. forbes.com How could both companies, and 22 others cited by the petition, just pull their registrations? It's all based on the definition of "shareholder." In fact, because the number of record holders is usually far lower than the actual number of shareholders since the shares of many investors are held in “street name” by their brokers, many small companies already have fewer than 300 record holders. For these companies, a brief filing with the SEC is all it takes to “go dark” and suspend all further Exchange Act filing requirements. For others, it is possible to drop below the 300 shareholder threshold in one of several ways. The most common going private transaction structures are a management buyout, third party tender offer followed by a “clean-up” merger, or a reverse stock split in which shareholders with fewer than a predetermined number of shares are cashed out.kjk.com
