Sands Regent Board Fails Shareholders, According to Las Colinas Capital Management
30 Maio 2006 - 1:57PM
PR Newswire (US)
IRVING, Texas, May 30 /PRNewswire/ -- The following was released
today by Las Colinas Capital Management: Las Colinas Capital
Management believes The Sands Regent (NASDAQ:SNDS) (SNDS) recent
decision to go private at $15.00 per share is in complete conflict
with management's previous strategy of growth via acquisition. The
company's press release dated May 17th stated that the board of
directors voted unanimously for the going private deal. The board
has voted, yet the shareholders are completely devoid of timely
financial reporting for the second consecutive quarter. An adverse
effect on shareholders occurs each day the stock trades without
timely financials. The board of directors has grossly breached
their fiduciary responsibility by presiding over these unwarranted
delays in reporting to shareholders; regulators permit up to 45
days to report unaudited quarterly results. The most recent
acquisition by SNDS was the Dayton Nevada Casino, announced
September 1st, 2005. Since then, nine months have past while
shareholders, because of delays, have been unable to review a
complete quarter of financial results and its consequent impact on
the free trading stock. The board of directors best serves all
Sands Regent shareholders when they begin seeking competitive bids
by a limitless number of qualified buyers for the company. Only
then do they begin to achieve a minimum standard of fiduciary
responsibility to its shareholders. Las Colinas Capital Management
and related clients own 238,432 shares or 3.36% of the company.
DATASOURCE: Las Colinas Capital Management CONTACT: Las Colinas
Capital Management, +1-972-887-9383
Copyright
Sands Regent (NASDAQ:SNDS)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Sands Regent (NASDAQ:SNDS)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre Sands Regent da NASDAQ bolsa de valores: 0 artigos recentes
Mais Notícias de Sands Regent (The) (MM)