As of August 4 2016, James Dondero is the new proud co-owner of Pendrell Corporation. Dondero achieved this remarkable feat by purchasing 23,568,047 shares possessed by the firm. Prior to this recent acquisition, Dondero has served as the President of Strand Highland Capital L.P.
In addition, he has offered investment advice to several private funds and managed accounts of the firm. His post as general partner has been crucial in the provision of such services. His craft skills and ability to spot business opportunities has elevated his status as one of the most influential entrepreneurs in the country. Mr Dondero currently owns 11% of the stock owned by the Trust, courtesy of his recent purchase.
This percentage is derived from dividing 23,568,047 shares owned by the Funds and Trust by 214,723,789, which are Common Stock shares reported in Quarterly reports dated July 15, 2016. Both Strand and Highland Capital have the power to dispose or vote on the 13,906,755 shares held by HCM Funds. Furthermore, Dondero equally has the power to vote or dispose of the 23,568,047 shares possessed by the Trust Board.
Stipulations Outlined In the Schedule
James recently signed a schedule with Pendrell Corporation pertaining to precise rules and regulations that govern their professional relationship. The schedule clearly stipulates that the stock is valued at $0.01 per share.
For instance, they ought to be a dealer or broker registered under section 15 of the Act. More importantly, they ought to have a duly registered company in compliance with the Investment Company Act and should have an endowment fund as required by State Law.
Consequently, the contract stipulates that ownership of less than five percent of shares within a class is inapplicable. In addition, persons are not allowed to own more than 5% of shares on behalf of other persons. More importantly, privacy has been safeguarded, courtesy of a clause that prohibits classification and identification of members within a particular group.
Having prepared this contract, both parties are bound to sign it and commit themselves to prosperous business relationship.
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