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[ISSPO] ISS Providence: Vote for Closure of Corporation

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Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.18 23:43:00 - [1] The ISS is no longer in a position to guarantee the safety of the Providence Corporation Assets (IS-R7P, QR-K85 stations) As a result, the ISS has found buyers for the stations for a total of 22bn ISK. To facilitate the sale, ISS is willing to offer an exchange of 6 ISSPO shares for 1 ISSO share, post Dividend. This combination will enable ISSPO shareholders to recover 50% of their investment. Dividend The 22bn Dividend will be issued on 1st March 2007, pending receipt from the buyers. Share Exchange After the vote outcome the exchange will be accepted until 10 Mar 2007. Exchange your shares by convoing Serenity Steele, then transferring the shares. Do not just send shares without being in convo first. Vote You need to vote as to whether you accept or reject this offer. (Right-click on your shares, choose: vote). Eve Strategic Maps - Outpost Alert
FemmeFatal Control Theory	Posted - 2007.02.18 23:58:00 - [2] I was wondering how ratio for station to ISSO shares was determined.
RichThugster Gallente 0riginal Pirate Material	Posted - 2007.02.19 00:12:00 - [3] WOW interesting
Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.19 00:12:00 - [4] Originally by: FemmeFatal I was wondering how ratio for station to ISSO shares was determined. It is based on 50% of the rate of average dividend returned during the corporations lifetime, then rounded to a whole number to enable share exchange. The reason 50% of past dividends was chosen, is because it limited by the number of shares we could afford to buy in the ISSO, for exchange purposes. Eve Strategic Maps - Outpost Alert
ErodiceX Caldari Sturmgrenadier Inc R i s e	Posted - 2007.02.19 04:41:00 - [5] hey Serenity good ta see ya back on the fourms. sorry to hear about the hard times yoru havin. I sent you a evemail in game would really like a reply its about the fed2nd shares that i never recived and would like my isk back since its been 16 days and with whats goin on right now with ISSPO. anyways take care.
RutsDC LFC Lotka Volterra	Posted - 2007.02.19 09:03:00 - [6] I really can't understand how the ISSPO shares get put on par with ISSCA shares when it comes to exchange rate, even if it's after a big dividend. Any additional details you can offer about this issue would be great, thanks.
Ling Xiao	Posted - 2007.02.19 09:52:00 - [7] Sorry to see it all ending, you guys did a hell of a job in this little game. Question: If there's a dividend coming on 1st March, doesn't this mean anyone exchanging shares before that date will lose out on it? Or do I misunderstand something here?
Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.19 12:15:00 - [8] Originally by: RutsDC I really can't understand how the ISSPO shares get put on par with ISSCA shares when it comes to exchange rate, even if it's after a big dividend. Any additional details you can offer about this issue would be great, thanks. The average dividend rate on ISSPO shares was similar to ISSCA. Eve Strategic Maps - Outpost Alert
RutsDC LFC Lotka Volterra	Posted - 2007.02.19 13:17:00 - [9] Edited by: RutsDC on 19/02/2007 13:17:40 Originally by: Serenity Steele Originally by: RutsDC I really can't understand how the ISSPO shares get put on par with ISSCA shares when it comes to exchange rate, even if it's after a big dividend. Any additional details you can offer about this issue would be great, thanks. The average dividend rate on ISSPO shares was similar to ISSCA. Yes, but that's because the base share price (which should be an estimate of the company's assets, among other things) was twice as high. This calculation makes expensive shares very bad to buy in the future, since all of a sudden the share's value is only derived from the dividend it provided in relation to base price rather than the assets in the company.
RutsDC LFC Lotka Volterra	Posted - 2007.02.19 13:41:00 - [10] Another question: I saw in another thread that outpost ownership has already been transfered to UK. If this is true, what's the vote for and where will the profits for february go? And most importantly why weren't shareholders called to vote on this before ownership changed? If ownership hasn't changed, please tell me so, and in that case I am very sorry to have listned to rumours.
Tart Kovsky Khumatari Holdings Administration	Posted - 2007.02.19 14:46:00 - [11] Originally by: RutsDC Another question: I saw in another thread that outpost ownership has already been transfered to UK. If this is true, what's the vote for and where will the profits for february go? When we became custodians of Fabrica on February 9th, we immediately set all the rates to 0 to avoid an accounting nightmare. If the ISSPO shareholders do not approve this deal, we will turn the outpost over to whichever entity ends up purchasing it. Meanwhile, we have been paying to maintain sovereignty in QR since nearly the beginning of February, and have freed ISS from any costs associated with the possible defense of the station.
RutsDC LFC Lotka Volterra	Posted - 2007.02.19 15:10:00 - [12] Hm... I am still upset that we shareholders weren't informed about this, but rather have to find out by reading rumors from other threads and drawing conclusions. Was this some kind of executive decision then? I think I am one of the major shareholders in these outposts (bribes are most welcome) and when major changes are done I expect to get information before it happens, rather than after the fact.
Kaeten Hybrid Syndicate Curse Alliance	Posted - 2007.02.19 15:54:00 - [13] To be honest, who would buy the station if ISS is falling apart and publicly saying "we are giving up". I'd try and just overrun the station, that's just me though. Pwnage PvP Recruitment \m/ Metal Head \m/
Tart Kovsky Khumatari Holdings Administration	Posted - 2007.02.19 16:42:00 - [14] Originally by: RutsDC Hm... I am still upset that we shareholders weren't informed about this, but rather have to find out by reading rumors from other threads and drawing conclusions. Was this some kind of executive decision then? I'm certainly not privy to ISS management's thought processes, but I would guess that -- having found prospective buyers -- they felt it would be safer to make a quiet handover beforehand instead of risk the asset by making the transfer more public. Again, we're quite prepared to turn the outpost over to whomever the shareholders ultimately decide on.
Proton Power Amarr Power Corrupts Trading Inc Power Corrupts Industry's	Posted - 2007.02.19 19:15:00 - [15] Question - Instead of dealing with trading shares back and forth why not just payout the dividends of what you sell the outpost for. It wont be 100% of what people put into it, but A) it will be closure for those that do have investments in it, and B) what about people that are afk for a few months expecting to get returns the next few months, or those that have 6 shares. What happens to the extra 2 shares. I probably dont understand the entire length of whats going on, but seems to me you would actually profit from doing it the way you are atm, since not eveyrone will be around to turn in shares, and I am sure not everyone has shares in lots of 4. ----------------------------------------------- http://oldforums.eveonline.com/?a=topic&threadID=439797Cli
Barbicane Minmatar The Gun Club Zzz	Posted - 2007.02.19 21:16:00 - [16] Uhm, how come the orignial ISSO shareholders don't get to vote about all these share trade-in programs? We're the ones taking a hit, through depriciation of our shares. Of course the shareholders of the captured/sold outposts will vote 'yes'. It's not like they have a choice. Last time some stations were captured we got to vote about the share exchange program. I voted 'yes' since I thought it was in my own interest that ISS kept its good reputation. I would probably vote the same way this time around, but I would very much have liked to at least get option to do so. /Disgruntled ISSO shareholder
Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.19 22:49:00 - [17] Edited by: Serenity Steele on 19/02/2007 22:47:32 Originally by: Proton Power Question - Instead of dealing with trading shares back and forth why not just payout the dividends of what you sell the outpost for. It wont be 100% of what people put into it, but A) it will be closure for those that do have investments in it, and B) what about people that are afk for a few months expecting to get returns the next few months, or those that have 6 shares. What happens to the extra 2 shares. I probably dont understand the entire length of whats going on, but seems to me you would actually profit from doing it the way you are atm, since not eveyrone will be around to turn in shares, and I am sure not everyone has shares in lots of 4. To clarify: ISS are doing BOTH pay out the dividends AND offer an exchange of shares after the dividend is paid. For players with <Exchange rate, they can either: - Trade for more/less shares on EGSE (or) - Add ISK to make-up the different to get ISSO Shares Eve Strategic Maps - Outpost Alert
Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.19 22:51:00 - [18] Originally by: Barbicane Uhm, how come the orignial ISSO shareholders don't get to vote about all these share trade-in programs? We're the ones taking a hit, through depriciation of our shares. Of course the shareholders of the captured/sold outposts will vote 'yes'. It's not like they have a choice. Last time some stations were captured we got to vote about the share exchange program. I voted 'yes' since I thought it was in my own interest that ISS kept its good reputation. I would probably vote the same way this time around, but I would very much have liked to at least get option to do so. /Disgruntled ISSO shareholder The ISSO shareholders are not taking a hit, as the ISS Alliance is using pre-ISSO IPO funds incl. liquidating non-producing assets to effectively buy the more ISSO shares. Eve Strategic Maps - Outpost Alert
Proton Power Amarr Power Corrupts Trading Inc Power Corrupts Industry's	Posted - 2007.02.19 23:01:00 - [19] Originally by: Serenity Steele Edited by: Serenity Steele on 19/02/2007 22:47:32 Originally by: Proton Power Question - Instead of dealing with trading shares back and forth why not just payout the dividends of what you sell the outpost for. It wont be 100% of what people put into it, but A) it will be closure for those that do have investments in it, and B) what about people that are afk for a few months expecting to get returns the next few months, or those that have 6 shares. What happens to the extra 2 shares. I probably dont understand the entire length of whats going on, but seems to me you would actually profit from doing it the way you are atm, since not eveyrone will be around to turn in shares, and I am sure not everyone has shares in lots of 4. To clarify: ISS are doing BOTH pay out the dividends AND offer an exchange of shares after the dividend is paid. For players with <Exchange rate, they can either: - Trade for more/less shares on EGSE (or) - Add ISK to make-up the different to get ISSO Shares Ah okay. Makes a lot more sense to me now. ----------------------------------------------- http://oldforums.eveonline.com/?a=topic&threadID=439797Cli
Packtu'sa Nabaal Construction and Industrials Corp Interstellar Starbase Syndicate	Posted - 2007.02.20 05:53:00 - [20] The decision to transfer station control from ISSPO to Ushra'Khan was made as a security measure, and that was clearly imposed upon the Ushra'Khan military commanders who carried through with the transfer. I gave Ushra'Khan that authorization so that the QR-K85 station (ISS Fabrica) would not remain vulnerable after a solarsystem sovereignty claim error. Both alliances were clear that the station ownership remained that of ISSPO until further developments, but that Ushra'Khan was taking control to secure it. Packtu'sa Founder/CEO Nabaal Construction and Industrials Corp [NCIC]
Barbicane Minmatar The Gun Club Zzz	Posted - 2007.02.20 07:49:00 - [21] Originally by: Serenity Steele The ISSO shareholders are not taking a hit, as the ISS Alliance is using pre-ISSO IPO funds incl. liquidating non-producing assets to effectively buy the more ISSO shares. Yeah, right. And you're claiming those funds were not being used before to generate revenue for ISSO? You have made the comittment to pay 5% monthly dividends on all ISSO shares. Let's assume these new share trade-in programs cost you 100b of ISSO shares, then that's an aditional 5b per month you will need to pay in dividends. Don't tell me you had that kind of cashflow before but you weren't using it Of course there will be a depreciation in ISSO share value. I'm not worried about you guys not delivering on the 5%, but I see the prospect of bonus dividends (if you make a revenue of +10% per month) being pushed far into the future.
Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.20 12:55:00 - [22] Edited by: Serenity Steele on 20/02/2007 12:54:35 Edited by: Serenity Steele on 20/02/2007 12:53:00 Barbicane: ISS have a large stock of Control towers, structures, POS fuels, capital ship components, minerals, some ISK and excess capital ships. These are non revenue generating assets that are sold/in the process of sale. The maximum amount of ISSO shares ISS need to buy to be able to make this offer on all exchanges for all outposts is 33-35bn ISK. As ISS buy the shares in ISSO for exchange, more isk is injected into ISSO, so there is more working capital to generate dividend revenue. Eve Strategic Maps - Outpost Alert
Ramblin Man Empyreum	Posted - 2007.02.20 17:50:00 - [23] Originally by: Serenity Steele ISS have a large stock of Control towers, structures, POS fuels, capital ship components, minerals, some ISK and excess capital ships. These are non revenue generating assets that are sold/in the process of sale. The maximum amount of ISSO shares ISS need to buy to be able to make this offer on all exchanges for all outposts is 33-35bn ISK. As ISS buy the shares in ISSO for exchange, more isk is injected into ISSO, so there is more working capital to generate dividend revenue. Wow, I think that is the most conclusive, rational answer to any accusation I've ever read on these forums. Not that Barbicane's question was unreasonable, but as for the answer... well... there you go.
Barbicane Minmatar The Gun Club Zzz	Posted - 2007.02.21 08:16:00 - [24] @Serenity: Thanks for the information. I just wish you had made that clear from the beginning. @Ramblin Man: I'm not sure I get what you're trying to say. Is it meant to be ironic (all those superlatives)?
Ramblin Man Empyreum	Posted - 2007.02.21 20:03:00 - [25] Originally by: Barbicane @Ramblin Man: I'm not sure I get what you're trying to say. Is it meant to be ironic (all those superlatives)? No. That was simply exuberant delight at finding a matter so clear, for once.
Serenity Steele Interstellar Starbase Syndicate Operations Interstellar Starbase Syndicate	Posted - 2007.02.24 16:19:00 - [26] Vote The closure of the ISS Providence Outpost Corporation was agreed by Shareholder vote as follows: 98.9428571% in Favour of accepting closure of the ISSPO public investments, 22bn Dividend and the offer of 6:1 on ISSO shares. Dividend The 22bn Dividend will be issued on 1st March 2007, pending receipt from the buyers. Share Exchange After Issue of the Dividend the exchange will be accepted until 10 Mar 2007. Exchange your shares by convoing Serenity Steele, then transferring the shares when instructed. Do not just send shares without being in convo first and receiving instruction. Shares sent without instruction will be accepted as a donation. Eve Strategic Maps - Outpost Alert
Jack Paladin Resurrection R i s e	Posted - 2007.03.01 02:39:00 - [27] Just interested to know.... When someone has less shares then 6 and EVE Stock Exchange is now not accepting this shares for sale or buy orders the players are stuck with them. So they cant rid of them. The money is throwed out of window and someone makes a profit on it couse he dont need to repay money back and shareholders have nothink.
Ling Xiao	Posted - 2007.03.02 18:10:00 - [28] Hi, is there any news on this? The dividend hasn't (yet) gone through, a situation update would be appreciated.
RutsDC LFC Lotka Volterra	Posted - 2007.03.03 08:09:00 - [29] Are we still in the "pending receipt"-phase, or what? No revenues for either ISSO or ISSPO as far as I can tell.
Halafian The Graduates	Posted - 2007.03.03 16:15:00 - [30] There's a deadline looming. I don't often see Serenity on, and when I do, conversations are blocked. Is there a different/better way to do this?

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