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Message: We may be next: Sidor Vz

The state is buying up Class B Sidor shares. If the price is right mine are for sale. Might be why the huge vol. and sustained price yesterday. Premarket sale today is 1000 shares at 56 cents at 8 am. There is light at the end of the tunnel.

Class B shareholders selling their shares promote
miércoles, 12 de mayo de 2010 Wednesday, May 12, 2010

de vender su participación al Estado venezolano. Within hours of the morning yesterday, the representatives of the Class B shareholders of Sidor, Pedro Acuña and Pedro Rondón, commercial representatives of that sector, convened a special meeting of Class B shareholders, held on the premises of the CVG Maxys building, to begin the process in which shareholders wishing to sell their shares at Sidor may deliver the relevant documentation and join the group expressed its willingness to sell its stake to the Venezuelan state. “Alfredo Maneiro”. According to information provided by Pedro Rondon Pedro Acuña and begin negotiations to be held in the afternoon at the headquarters of Siderurgica del Orinoco "Alfredo Maneiro.

En ese sentido, Acuña y Rondón, indicaron que hasta el momento sólo 2 mil 700 accionistas clase B, han consignado sus respectivas cartas ante el Ministerio del Poder Popular para las Industrias básicas y Minería (Mibam), que es el equivalente a un aproximado de 1 millón 500 mil acciones. In that sense, Acuña and Rondón, indicated that so far only 2 000 700 Class B shareholders have entered their letters to the Ministry of Popular Power for Basic Industries and Mining (Mibam), which is the equivalent of approximately 1 million 500 thousand shares.

15.242 accionistas 15 242 shareholders

. The commercial representatives of class B shareholders, they said they are 15 000 242 Sidor, which would power up the population of type B, which collectively represent a total of 6 million 365 000 342 shares. "It is important to note that the price to be canceled per share is set by the commercial code, however we are aiming to cancel we were 342 strong bolivar per share." y los convenios internacionales que rigen la materia, que tienen rango constitucional. At the same time declared that the negotiations undertaken with the company and with the knowledge of the owner of Mibam, José Khan, not only include a discussion of sale but requested that for those shareholders who do not wish to sell their shares, the guarantee their respective payments and be recognized the right of a co own a certain percentage of shares they can negotiate those roles, as prescribed in the Code of Commerce in force, the Constitution of the Bolivarian Republic of Venezuela and international conventions governing the matter, which have constitutional status.

. Finally, they explained that negotiation is comprehensive, integrated, and that not only touch one point as is the sale and the price of those shares. GCZ "Thursday morning from 9 in the mañanaza, will meet again in a shareholders' B, to analyze and define the proposals were made to management that currently manages the mill. GCZ

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