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Forums > SL CapEx Public Forum > Topic: Clarification on CEO share reconversion statement sought

Mar 1st 2008, 16:58
Servme Nakamura 		Clarification on CEO share reconversion statement sought
I'd like to get some explanation about "We have also unconverted all SLCapex CEO shares back to L$ in order for them to continue business as usual." as stated in the SLW buyback announcement (http://www.slcapex.com/home/story/SLW/1490)

Does this mean that all the CEO's that have a company listed at SLCapex got their SLW shares reconverted to L$, or does it only refer to SLCapex CEO shares (according to prospectus Investor Allen - guess that needs to be updated)?

Thanks for shedding a light onto this.
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Mar 1st 2008, 18:41
Insouciant Yue 		Re: Clarification on CEO share reconversion statement sought
Edited by author Mar 1st 2008, 18:45
If this is what I think it is, it's a good thing.

Specifically (and I'm NOT in a position of authority to know here -- just laying out my assumptions to be corrected), the "CEOs" named are the avatars that held lindens (eg. for distribution to shareholders as dividends). But when the conversion happened, all that "liquid" cash for each stock's CEOs' operation/accounting also got converted into SLW shares. Meaning that the CEO account was no longer in Lindens (but was accessible by selling SLW shares if possible) yet by not being immediately in Lindens meant that other business oblications couldn't be met when expected (eg. not just paying a divident building up, but also for paying employees and contractors) for work performed that was keeping the CEOs business going.

True, many of my fellow non-CEO "cash holders" need their money (that is now in SLW shares). But if my assumptions are correct, then I'll support the CEOs getting their working capital cash balance back unconverted so that their businesses (and my investments in their stock) can continue to operate.

Disclaimer - I'm just a small investor, and I bought into other stocks rather than have my L$ balance converted into SLW. I didn't need my cash immediately, and I'm still looking for my stocks before and after the LL policy change to be the smart choice. So I do want to see my CEOs able to still operate with the stock's cash assets in Lindens.
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Mar 1st 2008, 19:00
Servme Nakamura 		Re: Clarification on CEO share reconversion statement sought
It seems others are confirming that all CEO's had their cash balances made liquid again, which I am totally in favor of. This will make it easier for them to run their companies again and turn a profit.
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Mar 2nd 2008, 02:11
Sean4you Shepherd 		Re: Clarification on CEO share reconversion statement sought
If thats the case. Better now than never.
I really do hope none of the CEO:S sold their SLW to get some cash though.
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