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  1. BB Fightclub's Avatar
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    Thread AuthorThread Author   #1  

    Default BlackBerry 2013 AGM

    The BB Annual General Meeting was July 10 last year. Should be about the same time this year. (Roughly speaking...) 30 days before the AGM the brokerage houses have to mail out the information re company, items to be voted on, proxy votes etc. They need two weeks to determine who holds eligable BB shares. The date of record is the day you have to have control of the shares in your accounts. If your margined shares are loaned out to a shorter, the person that buys those shares gets the vote. Two weeks before the record date the company has to announce dates for record and AGM in financial newspapers....which should be right about now. I talked to TD Bank - shares eligable for shorting are placed in a pool, from which they are loaned out to shorters. If there are 1,000,000 shares in the pool and 600,000 loaned out, does that mean I will only get 40% of my shares to vote with? I have read that the system isn't that strict and everybody gets to vote. 526MM + 180MM shorts???
    Why care about voting???? 2 weeks after the record date they will mail out the list of items to be voted on: changing name to BlackBerry, directors, compensation, etc....but I was reading about a SEIB:

    A Shareholder Endorsed Insider Bid is a take-over bid made by a bidder who together with its affiliates or associates and joint actors has beneficial ownership of 10% or more of the voting securities of the Company, by way of take-over bid circular to all shareholders, and in respect of which, among other things, more than 50% of the common shares held by shareholders have been tendered to the take-over bid at the time of first take-up under the take-over bid and the date of such first take-up occurs not later than the 120th calendar day following the date on which the take-over bid is commenced. A Shareholder Endorsed Insider Bid is not required to be open for a minimum period of time beyond the 35 days required under applicable securities law.
    I'm just an engineer, but it seems to me that all this shorting could be big boys borrowing stock, shorting, buying it back in another account, getting the voting rights, and then voting to have a SEIB at market plus 20% or $19.00. With 51% would this work? Maybe I'm paranoid, but look at all the BS going on in NY and DC... anything is possible.
    Thanked by 4:
    bungaboy (05-16-2013),  kfh227 (05-16-2013),  Zouyu (05-23-2013) 
    BBNation, kfh227, bungaboy and 2 others like this.
  2. Shanerredflag's Avatar
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    Wow...good catch, I'm going to ask investor relations.

    Posted via CB10
    Be nice, it's free.
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    kfh227 (05-16-2013) 
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  3. cjcampbell's Avatar
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    Hostile or not, the Canadian government could kaibosh any attempt from any foreign entity.

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  4. a1s2d3f4g5's Avatar
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    No I don't think this is the case because you would need to file a schedule 13d once you own 5 or 10% of the stock. Only investor who has this much is prem watsa I'm pretty sure. He is not going to take over probably.

    Also that insider transaction requires a tender offer, which has its own rules. You will have notice and time to tender if you choose. If you ignore you will still get some good value for your shares.

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  5. BB Fightclub's Avatar
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    From SEDAR:
    Research in Motion Limited
    Record date: 21 May, 2013
    AGM date: 09 Jul, 2013
    If you owned shares on May 21 you may be getting proxy voting cards in about 10 days. If your stock is in a margin account, it may have been loaned out to shorters - no voting for you. I have BB stock in 4 accounts and all of my margin stock has been up for sale at $27. It will be interesting to see how many votes I get. I thought there would be alot of activity before the record date - people regaining control of their shares to get to vote at the AGM???? I also read somewhere - every shares gets to vote - all 700 MM of them.
    Thanked by:
    Zouyu (05-23-2013) 
  6. docgasberry's Avatar
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    Quote Originally Posted by BB Fightclub View Post
    From SEDAR:
    Research in Motion Limited
    Record date: 21 May, 2013
    AGM date: 09 Jul, 2013
    If you owned shares on May 21 you may be getting proxy voting cards in about 10 days. If your stock is in a margin account, it may have been loaned out to shorters - no voting for you. I have BB stock in 4 accounts and all of my margin stock has been up for sale at $27. It will be interesting to see how many votes I get. I thought there would be alot of activity before the record date - people regaining control of their shares to get to vote at the AGM???? I also read somewhere - every shares gets to vote - all 700 MM of them.
    How many would make it to Waterloo, Canada? Even if the shares are in their name, legally in their name and not loaned out.
  7. kfh227's Avatar
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    Vote for a share buy back. A prove it but don't necessarily act on it.

    Might start a short squeeze

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  8. theRock1975's Avatar
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    Quote Originally Posted by kfh227 View Post
    Vote for a share buy back. A prove it but don't necessarily act on it.

    Might start a short squeeze

    Posted via CB10
    Definitely!!

    A few solid quarters and cash will hit $5B. What then?? Shorts will keep pushing the market cap low and BlackBerry with have more cash than assets. They can easily push the stock to 30$ and the shorts will will be deep underwater.

    Can't wait for that to happen. Watsa will steer them to this end.

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  9. docgasberry's Avatar
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    Quote Originally Posted by kfh227 View Post
    Vote for a share buy back. A prove it but don't necessarily act on it.

    Might start a short squeeze

    Posted via CB10
    This is a GREAT idea !!!!
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    #10  

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    Quote Originally Posted by docgasberry View Post
    How many would make it to Waterloo, Canada? Even if the shares are in their name, legally in their name and not loaned out.
    You don't have to be there in person. You can vote by proxy.
    Do those who protest the loudest or longest have a lock on the truth?
    Shanerredflag likes this.
  11. docgasberry's Avatar
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    Quote Originally Posted by bungaboy View Post
    You don't have to be there in person. You can vote by proxy.
    How do one put up a motion for a share buy back?
  12. BB Fightclub's Avatar
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    BB should maintain a $3B cash reserve and then pay a $1.00 per share dividend every time they have $524MM sitting around. The shorters have to pay the $1.00 dividend to those that bought their stock. BB pays $524MM - shorters pay $200MM - shareholders receive $724MM. The shorters would try to cover - but shareholders like the $1.00 dividend, so they would hold and hold and hold .... squeeze.
    bungaboy and Shanerredflag like this.
  13. BB Fightclub's Avatar
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    Notice of AGM published on EDGAR. Lots of info. Nothing out of the ordinary.
  14. BB Fightclub's Avatar
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    Some highlights:
    Thorsten Heins has 50,000 options with a strike price of $ 115.40 expire 27-Dec-13. YOU CAN DO IT THOR!
    and 763,358 options at $ 7.69 good till 1-Oct-17
    $1,000,000 Base Salary
    A bunch of other bonuses AIP & RTUs
    But...Thorsten Heins will receive $ 55,615,227 if there is a change in control
    a1s2d3f4g5 likes this.
  15. kfh227's Avatar
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    Never mind
  16. Alex Keb's Avatar
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    Most likely will be sold to Cisco or IBM, I don't see anyone else that can buy it.
  17. Pete The Penguin's Avatar
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    Interesting, most interesting...

    Posted via CB10 from my Q10.
  18. kfh227's Avatar
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    #18  

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    Quote Originally Posted by BB Fightclub View Post
    BB should maintain a $3B cash reserve and then pay a $1.00 per share dividend every time they have $524MM sitting around. The shorters have to pay the $1.00 dividend to those that bought their stock. BB pays $524MM - shorters pay $200MM - shareholders receive $724MM. The shorters would try to cover - but shareholders like the $1.00 dividend, so they would hold and hold and hold .... squeeze.
    Taking $1 off the balance sheet would drop the stock $1. net result to a short is nothing. And it weakens the balance sheet.
  19. rim4ever's Avatar
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    #19  

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    Quote Originally Posted by kfh227 View Post
    Taking $1 off the balance sheet would drop the stock $1. net result to a short is nothing. And it weakens the balance sheet.
    Not quite the same. Shorts would have to pay $1 in cash while gaining $1 on paper.
  20. kfh227's Avatar
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    Quote Originally Posted by rim4ever View Post
    Not quite the same. Shorts would have to pay $1 in cash while gaining $1 on paper.
    And having shorted a stock that just got a weaker balance sheet overnight.

    It's just not going to happen unless the company is way past the turn around stage. We've wasted enough brain cells on this. Time to move on.

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