Was talking to a gentlemen i met in the stands today at the Golf tournament in Ft Worth. One thing led to another and he mentioned he lived in San Jose Costa Rica 9 months out of the year. He asked if i knew someone named Gary Austin and said he lived three houses down from him. He said Gary's wife had divorced him and he had his 30,000 sq ft house up for sale. Just 5 mill.He talked about how much money the guy was making and if i knew about some of the stories that he heard. I thought it best to stay out of it and just said i knew him in Las Vegas and i had heard rumors but didn't know any of the stories.Maybe he will sell his hacienda and pay some people. I doubt it. :howdy:
Speaking of Gary Austin, the majority shareholders of Big Stick Media (the company that owns Don Best) are buying the remaining shares and taking the company private, and he is part of that group:
9:03 AM ET, May 20, 2010
VANCOUVER, BRITISH COLUMBIA, May 20, 2010 (MARKETWIRE via COMTEX) -- Big Stick Media Corporation (BSM) ("BSM" or the "Company") announced today that ten (10) of its shareholders (the "Buying Group"), holding an aggregate of 9,980,441 of BSM's common shares, representing approximately 41.60% of all of BSM's issued and outstanding shares (the "Common Shares"), have entered into an agreement with BSM to acquire all of the outstanding Common Shares not held directly, or indirectly, by the Buying Group at a price of $0.10 cash per Common Share.
The acquisition price of $0.10 per Common Share represents a 54% premium over the volume weighted average trading price of the Common Shares on the TSX Venture Exchange for the twenty (20) trading days ended on May 19, 2010, the last trading date prior to the announcement of the proposed going private transaction. The acquisition price also represents a 47% premium over the mid-point of the valuation range established by the independent valuator retained by the Special Committee of the Board of Directors of BSM.
On March 26, 2010, the Board of Directors of BSM established a Special Committee comprised of its independent directors, namely Messrs. Cam DiGiorgio and Jonathan Moss, to consider the proposed going-private transaction. On April 12, 2010 the Special Committee formally engaged RSM Richter Inc. (the "Valuator") to prepare a formal valuation of the Common Shares and to provide a fairness opinion with respect to the proposed going-private transaction. The Valuator established a valuation range of $0.060 to $0.076 per Common Share. The Special Committee and the Board of Directors have received an opinion from the Valuator that the acquisition price of $0.10 per Common Share is fair, from a financial point of view, to those BSM shareholders that are not among the Buying Group. Copies of the formal valuation and the fairness opinion of the Valuator will be included in the management information circular that will be sent to BSM shareholders in connection with the annual and special meeting to consider the proposed going private transaction.
The Special Committee has unanimously recommended that BSM's Board of Directors approve the proposed going-private transaction and that the Board recommend that shareholders vote in favor of the proposed going-private transaction. The Board of Directors of BSM has unanimously approved, and recommends that shareholders vote in favor of, the proposed going-private transaction. The transaction is expected to close in July, 2010.
The going-private transaction will be effected by way of an amalgamation between BSM and a newly-created corporation which is wholly-owned by the Buying Group. For the amalgamation to proceed, the special resolution authorizing the amalgamation must be approved by at least two-thirds of the votes cast by BSM shareholders at the shareholders' meeting called to consider the proposed transaction. In addition, the amalgamation must also be approved by a majority of the votes cast at the shareholders' meeting by those BSM shareholders that are not among the Buying Group. It is anticipated that the shareholders' meeting will be held in early July, 2010. Full details of the going-private transaction will be contained in a management information circular to be mailed to BSM's shareholders. Completion of the going private transaction is also subject to regulatory approval.
Members of the Buying Group (with their respective corresponding controlling shareholders in parentheses) are BMX Entertainment S.A. (Karen Molnar), Suplitodo S.A. (Pedro Mesen), CVR Investments Ltd. (Jonathan Salazar), SGR Investments Ltd. (Rattia Ouares), Townson Holdings Ltd. (Marianelle Zeledon Segura), Quality Investments S.A. (Karen Molnar), Distribuidora Gravot S.A. (Andres M. Sanchez), Corporation Guiya S.A. (Ramses Owens), Clarence Gary Austin and Keen Sing Enterprises (Robert Montgomery).
9:03 AM ET, May 20, 2010
VANCOUVER, BRITISH COLUMBIA, May 20, 2010 (MARKETWIRE via COMTEX) -- Big Stick Media Corporation (BSM) ("BSM" or the "Company") announced today that ten (10) of its shareholders (the "Buying Group"), holding an aggregate of 9,980,441 of BSM's common shares, representing approximately 41.60% of all of BSM's issued and outstanding shares (the "Common Shares"), have entered into an agreement with BSM to acquire all of the outstanding Common Shares not held directly, or indirectly, by the Buying Group at a price of $0.10 cash per Common Share.
The acquisition price of $0.10 per Common Share represents a 54% premium over the volume weighted average trading price of the Common Shares on the TSX Venture Exchange for the twenty (20) trading days ended on May 19, 2010, the last trading date prior to the announcement of the proposed going private transaction. The acquisition price also represents a 47% premium over the mid-point of the valuation range established by the independent valuator retained by the Special Committee of the Board of Directors of BSM.
On March 26, 2010, the Board of Directors of BSM established a Special Committee comprised of its independent directors, namely Messrs. Cam DiGiorgio and Jonathan Moss, to consider the proposed going-private transaction. On April 12, 2010 the Special Committee formally engaged RSM Richter Inc. (the "Valuator") to prepare a formal valuation of the Common Shares and to provide a fairness opinion with respect to the proposed going-private transaction. The Valuator established a valuation range of $0.060 to $0.076 per Common Share. The Special Committee and the Board of Directors have received an opinion from the Valuator that the acquisition price of $0.10 per Common Share is fair, from a financial point of view, to those BSM shareholders that are not among the Buying Group. Copies of the formal valuation and the fairness opinion of the Valuator will be included in the management information circular that will be sent to BSM shareholders in connection with the annual and special meeting to consider the proposed going private transaction.
The Special Committee has unanimously recommended that BSM's Board of Directors approve the proposed going-private transaction and that the Board recommend that shareholders vote in favor of the proposed going-private transaction. The Board of Directors of BSM has unanimously approved, and recommends that shareholders vote in favor of, the proposed going-private transaction. The transaction is expected to close in July, 2010.
The going-private transaction will be effected by way of an amalgamation between BSM and a newly-created corporation which is wholly-owned by the Buying Group. For the amalgamation to proceed, the special resolution authorizing the amalgamation must be approved by at least two-thirds of the votes cast by BSM shareholders at the shareholders' meeting called to consider the proposed transaction. In addition, the amalgamation must also be approved by a majority of the votes cast at the shareholders' meeting by those BSM shareholders that are not among the Buying Group. It is anticipated that the shareholders' meeting will be held in early July, 2010. Full details of the going-private transaction will be contained in a management information circular to be mailed to BSM's shareholders. Completion of the going private transaction is also subject to regulatory approval.
Members of the Buying Group (with their respective corresponding controlling shareholders in parentheses) are BMX Entertainment S.A. (Karen Molnar), Suplitodo S.A. (Pedro Mesen), CVR Investments Ltd. (Jonathan Salazar), SGR Investments Ltd. (Rattia Ouares), Townson Holdings Ltd. (Marianelle Zeledon Segura), Quality Investments S.A. (Karen Molnar), Distribuidora Gravot S.A. (Andres M. Sanchez), Corporation Guiya S.A. (Ramses Owens), Clarence Gary Austin and Keen Sing Enterprises (Robert Montgomery).
What I cannot understand; since evryone and their guru claims Gary Austin is a scumbag no-pay; skipped outta Vegas owing megabucks; why is there not a contract out on him; or at least an organized thievery of assets; or hiring some thugs to give him an old fashioned ass whipping..?? Just doesn't make sense to me; or perhaps he was sharp enough to not owe people who would actually do something nasty..
just my thoughts..
gl
just my thoughts..
gl
