Special meeting of shareholders to be held tomorrow, Feb 9.

What happens next? Even the blog cow is concerned. Any udder surprises?

 

On January 22, the Co-op announced a special meeting for February 9, 2021.  Here is the letter:

 

 

In this announcement we are told that a vote will be held to determine “if the shareholders want to pursue the sale of the Cooperative.”  The Board says that there are “many mobile home community operators who would want to purchase the Cooperative.”

At the  time of this announcement, the negotiating time frame with  Murex was not yet over, but the announcement makes no mention of any further possible offers from Murex.  Evidently, the Board believed that Murex was done and that we would not expect any more attention from them.

But, on Jan 26 we learned that Murex had indeed come up with a better offer, and we received that offer by email.  This information had been held up and should have been sent to us before this date.

So now we received an unexpected 3rd deal from Murex, but the Board was not going to pay attention to it.  The special “meeting” on Feb 9 would go ahead, and that meeting would consist only of a vote.  No discussion of Murex or anything else would occur.

The President discusses his next steps in the letter above, but those plans are vague, and there is no indication that he wants to discuss those next steps with the shareholders now.

Some of us thought that he should have set up a meeting to talk about the Murex new offer, but he did not. It’s as if it never happened.

Is there a risk of a suit brought by Murex?

And what about the MHM offer which is currently in limbo?

Don’t expect any delving into these issues tomorrow.  But, who knows?

Also, has anyone seen instructions for Zoom tomorrow?  If so please email to us at Blogfinger@verizon.net

 

Paul Goldfinger,  Editor.

Feb 8, 2021.