SeaWorld IPO

[Nitro_230]

SeaWorld became a publicly traded company last friday, and is now at the whims of stockholders. But the interesting story is that PETA purchased shares.

http://www.bizjournals.com/orlando/blog/2013/04/oh-snap-peta-buys-shares-in-seaworld.html

 

[Octobers Fade]

Wow that sucks!
Maybe when they don't get their way, as disgruntled stock owners, they can sell their shares.

 

[Nitro_230]

Yea, they have gone to every media outlet who will listen to indicate they purchased the minimum number of shares to attend the stockholder meeting and put up a proposal. Which depends on the company, because for some companies that is 1 share.

 

[maxairmike]

I'm looking through the prospectus right now, and it looks like even if PETA purchased all of the shares offered to the public, they would only have a 28% interest in the company. Blackstone and its affiliates/subsidiaries and other major financial investors still control 67.5% of the company. I haven't gotten to voting rights and such for the common stock yet. I'll make an updated edit when I do.

EDIT: Got there quicker than I expected. It sounds like PETA didn't consider anything when they purchased the stock, as it appears common holders have pretty limited voting powers. Here's the pertinent section;

Holders of our common stock are entitled to one vote for each share held of record on all matters on which stockholders are entitled to vote generally, including the election or removal of directors. The holders of our common stock do not have cumulative voting rights in the election of directors.

Even preferred stock looks to be pretty limited, possibly even more limited than common stock, if the Board would decide to do so. I would also be surprised if they do shareholder meetings in disclosed, public locations very often, instead electing to do them as a webcast with only call-in abilities. That form of shareholder meetings are generally not well "attended" by common holders, so anything PETA says in that forum would likely fall on deaf and hostile ears. A few new issuances of diluting stock under the 20% mark would also not surprise me over the course of the next year or two if PETA does indeed own any significant amount. Of course, since the requirement is one share for a vote, I think SEAS is pretty safe. Shareholder meetings might be amusing the listen in on, though.

If you want to read through the prospectus, just search the EDGAR database for the ticker SEAS.

 

[Nitro_230]

Anything PETA says is going to fall on hostile ears simply because the stockholders want to make money and dumping the Shamu franchise won't do that in any way.

I'm sure they know they won't win anything, but this will be their way to get in the news at least once a year about SeaWorld.

 

[lazyboy97o]

Anything PETA says is going to fall on hostile ears simply because the stockholders want to make money and dumping the Shamu franchise won't do that in any way.

I'm sure they know they won't win anything, but this will be their way to get in the news at least once a year about SeaWorld.

Even shareholders who may be inclined to agree with them will become hostile as they have indicated that their plan is to just be annoying and bring up the issue every chance they get.

 

[natespf]

Even shareholders who may be inclined to agree with them will become hostile as they have indicated that their plan is to just be annoying and bring up the issue every chance they get.

Well hopefully they try and build up some media buzz, then slip up and expose their true agendas. People for the Euthanasia of Tame Animals.

They may be trying to "expose" SW to their own shareholders, but it may actually "expose" PETA to their own donors.

Then they all swap their donations from PETA to SW :happy:

 

[Smitty]

Up here in Virginia we have a name for PETA as their headquarters is in Norfolk

People
Embarrassing the
Tidewater
Area

But they wont have a real impact from what I've heard.