Tash-Murkon Family Assumes Minority Stake in Carthum Conglomerate
New Eden News - Sat, 22 Nov 2008 - 00:00
Pimebeka - Amarr Certified News is reporting that the Carthum Conglomerate's major shareholders, the Lai Dai Corporation and the Sarum Family, have agreed to a special stock issue for the purpose of raising capital from the Tash-Murkon family. The deal, signed yesterday, gives the Tash-Murkon family a 9% stake in Carthum in return for a cash outlay 5% below the current market price for Conglomerate stock.
This deal is the end of what has been nearly a month-long search for solutions to Carthum's cash flow problems, which began to cause serious problems for the company's stock price last month following a particularly disappointing earnings report. Until last week, negotiations between Carthum and a number of suitors appeared to have stalled for various reasons. According to sources in the company, the Tash-Murkon family wanted considerably more influence on the company's board than the Sarum family and Lai Dai were willing to give.
However, following Catiz Tash-Murkon's abbreviated visit to Kador Prime last week, the royal house seemed to become much more flexible on the issue, dropping a number of more far-reaching demands. The deal as signed gives the Tash-Murkon family a significant stake in the company and a seat on the board, but for the most part control of the company remains firmly in the hands of the Sarum Family and Lai Dai. Some are speculating the compromise may have been arrived at in order to curry favor with the Empress, but so far neither the Tash-Murkon Family nor the Conglomerate are discussing the deal.
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