Could someone translate this into english, please?
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Essentially it means that Gerry Forsythe, Kevin Kalkhoven and Paul Gentilozzi (through shell companies) have bought 3,377,400 shares of MPH - approximately 20 percent of the outstanding shares.
Combined with Forsythe's existing holdings, it gives the three (acting as Open Wheel Racing Series, LLC) either a controlling interest or **** close to a controlling interest in MPH. Thus they can then petition the CART BoD to make a tender offer for the remaining shares and take MPH private again.
To break down the shell companies:
Willis Capital, LLC has exactly the same address as Indeck Power Equipment Co. That's Forsythe, obviously.
Big Bang Racing, LLC is just across town from Gentilozzi's headquarters. Probably it's a PG shell company.
The others are all headquartered where Kalkhoven's offices are.
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A quick check on Yahoo shows that Forsythe directly owns 3,377,400 shares (same amount as the trio owns under Open Wheel Racing Series). Indirect ownership is listed as 3,242,400.
The identical share amount leads to the question of whether additional shares have been acquired or if Gentilozzi and Kalkhoven have bought into Forsythe's interest. If the latter is the case, a SEC filing on the disposition of Forsythe's shares should be forthcoming.Last edited by don7031; 08-16-2003, 09:01 AM.I wish I knew - Dennis "Cutty" Wise
When its game time, it's pain time! - Terrible Terry Tate
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Originally posted by don7031
A quick check on Yahoo shows that Forsythe directly owns 3,377,400 shares (same amount as the trio owns under Open Wheel Racing Series). Indirect ownership is listed as 3,242,400.
The identical share amount leads to the question of whether additional shares have been acquired or if Gentilozzi and Kalkhoven have bought into Forsythe's interest. If the latter is the case, a SEC filing should on the disposition of Forsythe's shares should be forthcoming.
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So if they're buying from Forsythe, that actually doesn't increase the number of shares they own, and doesn't give them control, correct? It only means Forsythe has found some suckers to eat part of his loss...?I'm from a place called the internet. Nothing disturbs me.
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Originally posted by Railbird
LOL
I love this
Did the guy really pay one cent per share or I need to clean my glasses?"Is that my *** that I smell burning?" ... Helmet Stogie from "Death spasms of the Mabuchi"
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Originally posted by Railbird
LOL
I love this
Fixed just for Mesquite.Last edited by don7031; 08-18-2003, 12:00 PM.I wish I knew - Dennis "Cutty" Wise
When its game time, it's pain time! - Terrible Terry Tate
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