Originally Posted by
Denny Crane
Would buying that much of VA require some scope relief on our part????
Here is part of the definition of "Control" from Section 1.
Control” for the purposes of Section 1, will exist by entity A over entity B, only if A,
whether directly or indirectly through the control of other entities:
a. owns securities that constitute and/or are exchangeable into, exercisable for or
convertible into more than:
1) 30 percent (49 percent with respect to the Company’s interest in a foreign air
carrier) of B’s outstanding common stock, or if stock in addition to common stock
has voting power,
Denny
SIA owns 49% of Virgin. If I read the contract correctly, that is just at the threshold........
A company like virgin could issue a few more shares of common stock to dilute the 49% state by a few thousandths of a percentage point!!
Just sayin.....