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dydo

JA Solar (JASO)

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explo    671

Here is the PM on the vote: 

http://ir.trinasolar.com/mobile.view?c=206405&v=203&d=1&id=2230297

By the way each shareholder is not personally called to a GM (annual or extraordinary). Companies only have to properly announce them and then it's up to shareholders to show up and vote.

Edited by explo

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solarpete    50
1 hour ago, explo said:

It depends on how you "owned" the shares. I've owned shares directly and through broker. Through broker there are different account styles. The one I use now is a tax free insurance and the broker is the formal owner  of shares and thus I don't get to vote at GMs.

 

I owned mine through TD Ameritrade.  Perhaps that's the explanation.  Although the broker shouldn't care what the share price is, so I don't see why the broker should be the entity entitled to vote.

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solarpete    50
1 hour ago, explo said:

Here is the PM on the vote: 

http://ir.trinasolar.com/mobile.view?c=206405&v=203&d=1&id=2230297

By the way each shareholder is not personally called to a GM (annual or extraordinary). Companies only have to properly announce them and then it's up to shareholders to show up and vote.

Unfortunately, I can't access that link from my work computer.  I'll check it out at home (where it will presumably work).

Maybe I did receive an electronic ballot (that's the way TD Ameritrade usually does these things), and already forgot about it again.  I do seem to remember receiving a notification about a Board meeting where the offer was on the agenda--I just don't remember my input as a shareholder being solicited (hence my initial claim the board did this on their own).  But perhaps it was, and I just don't remember.  In any case, I'm certainly under no illusions that my puny few hundred shares would have swayed the outcome.

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dydo    1,425
20 hours ago, explo said:

So much for the offer price being a ceiling. I never understood the "the bid is the lid" claim..

The facts are 253 days in last 12 months JASO was 35 of them above 6.80 per share. After the offer, 4 times. September 1, 4, 5 and 7 of this year. I have a hard time throw away the idea that the offer did not lid the stock. Of course, it did. 

Now, perhaps the 4 days of September are a reflection of a change, like Chinese nationals buying the stock, banks, maybe investment firms or maybe Jinglong buying shares on the market, I do not know, but pretty much for 3 months, the lid was firmly on and until the change, it would remain on.  Even the earnings did nothing for it. The BRICS meeting apparently is making difference for JKS so some people are looking into JASO, perhaps. However, I would be very careful to go around like JASO has broken a crust and is running free.  The move could be temporary or maybe it is a sign of the very offer being accepted and last of shares are being cleared for the statistical majority. I hope the company blossoms as all need to be recognized, but 4 days out of 252 is rather small to claim something else.  Two cents.

Thanks

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explo    671
2 hours ago, dydo said:

The facts are 253 days in last 12 months JASO was 35 of them above 6.80 per share. After the offer, 4 times. September 1, 4, 5 and 7 of this year. I have a hard time throw away the idea that the offer did not lid the stock. Of course, it did. 

Now, perhaps the 4 days of September are a reflection of a change, like Chinese nationals buying the stock, banks, maybe investment firms or maybe Jinglong buying shares on the market, I do not know, but pretty much for 3 months, the lid was firmly on and until the change, it would remain on.  Even the earnings did nothing for it. The BRICS meeting apparently is making difference for JKS so some people are looking into JASO, perhaps. However, I would be very careful to go around like JASO has broken a crust and is running free.  The move could be temporary or maybe it is a sign of the very offer being accepted and last of shares are being cleared for the statistical majority. I hope the company blossoms as all need to be recognized, but 4 days out of 252 is rather small to claim something else.  Two cents.

Thanks

The nonsense lowered bid felt more like a wet blanket to me. Who wants to be in a stock doing great but with a shareholder insulting chairman and CEO? The rise above bid might reflect speculation that it will be raised again or will be of no consequence.

By nature a large bid is considered a temporary floor until filled and a large ask is considered a temporary ceiling. Extending that to a maximum non-binding bid being a permanent ceiling seems non-linear to me. It all depends on the likelyhood of shareholders accepting it and the likelyhood of the bidder having to raise it or withdraw it. 

What you see now is others bidding higher than the chairman because they see more value than the price offered by the chairman. They market is invalidating the chairman's bid, handing the ball back to him. Let's see if the lame board has anything to say about it.

Edited by explo

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