Nov 12th 2008, 12:03
Wenden Xeno
ACE trader since 2007/12/22
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SAS Company Policy (Vote here) |
A long post this- Read the press release, the Company Policy Below, and then to vote, say Yes [I agree with the company Policy] or No- in reply to this post.
(Those who wish to vote in private may do so by e-mail to wendenxeno@hotmail.com- buy say also how many shares you owned on 12Nov]
You all get 1 vote per share held on 12Nov.
Voting closes on 22Nov08.
PRESS RELEASE
Now that, thanks to the recent secondary offering and approx 350,000L that came with it, SAS has emerged from a smallcap to a midcap sized company in SL terms, I have decided that it is high time to publish a company policy, which will outline all SAS porcedures and our strategy moving forward.
All SAS shareholders may vote to accept (or not) my suggested company policy, with voting to close on the 22nd of November.
SAS shareholders can vote in 2 ways-
1.by posting their vote in the forum (reccommended)
2. By e-mail to wendenxeno@hotmail.com
State Yes (I approve the company policy) or No (I dont approve).
If you vote by e-mail, state how many shares you owned on 12Nov08 for verification purposes.
Each shareholder gets 1 vote per share held on 12Nov08
See the Forum for our Company Policy in detail. In brief- it has 6 sections:
1. Election of Company Officers
[How we elect company officers]
2. SAS Strategy & 3. Dividend Payment Policy
[we will maintain 300k for currency trading the profits from which will be paid out as a dividend every month. We will only pay dividends and stock buyback from our stock assets when they exceed 300,000L with 400,000L our target asset value]
4. Shareholder voting rights
[All shareholders get to vote on all major decitions/ Any shareholder or group of shareholders may propose a vote as long as they have in combination over 5000 SAS shares
5. Pay awarded to CEO
[I am paid only through dividends and through stock buyback]
6. The CEO shall never sell any of his/her shares
[I will never ever sell any shares
SUGGESTED COMPANY POLICY
Company Policy
1. Election of Company Officers
2. SAS Strategy
3. Dividend Payment Policy
4. Shareholder voting rights
5. Pay awarded to CEO
6. The CEO shall never sell any of his/her shares
Election of Company Officers
i. Company Officers are to be elected in January every year.
ii. To be eligible for election, an Avatar must own at least 10,000 SAS shares.
iii Each January, Interested Avatars are to request nomination for each post.
iv Avatars shall be voted into each post by the end of January.
v There are three posts available: CEO, CFO and Senior Analyst.
SAS Strategy
SAS strategy is simple. The companies financial operations are split into Currency Trading and SL Stock Assets. Whilst Currency trading proceeds are returned to shareholders via dividends every month, profits from the appreciation of stock assets are only returned to shareholders when a benchmark stock asset value of 300,000L is exceeded, with the target stock asset value set at 400,000L.
Dividend Payment Policy
i. The currency trading float is maintained at 300,000L, with 100% of profits from monthly currency trading returned to shareholders as dividends each month.
ii. SL Stock Assets are to be invested by the CEO to the best of his/her ability.
The Target total asset value (the sum of stock assets and cash) is 400,000L.
Share buybacks and Dividends shall only be paid with profits from total asset value if it exceeds 300,000L.
Profits from appreciation of total asset value are paid as following:
25% Profits used for share buyback
75% Profits paid out as dividend.
Shareholder Voting Rights.
Any shareholder or combination of shareholders owning a total of at least 5,000 SAS shares may propose a vote on any motion.
The CEO shall fairly execute a vote on all proposed motions, with 1 vote awarded per share held.
Pay Awarded by CEO.
The pay of CEO is performance related. The only source of payment is through Dividend Payments and through the accumulation of shares by stock buyback.
The CEO shall never sell any SAS shares.
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Nov 12th 2008, 12:04
Wenden Xeno
ACE trader since 2007/12/22
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Re: SAS Company Policy (Vote here) |
| Yes |
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Nov 12th 2008, 14:35
Anja Drevnerussky
ACE trader since 2008/06/15
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Re: SAS Company Policy (Vote here) |
| Yes (26573 shares) |
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Nov 12th 2008, 17:46
San Liadis
ACE trader since 2007/10/23
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Re: SAS Company Policy (Vote here) |
| Yes (1 share):-) |
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Nov 13th 2008, 00:22
Phi Zessinthal
ACE trader since 2008/10/18
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Re: SAS Company Policy (Vote here) |
| yes (8165) |
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Nov 13th 2008, 00:51
Cliff Eclipse
ACE trader since 2007/10/23
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Re: SAS Company Policy (Vote here) |
yea, 180
This method works Wenden. Good idea. |
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Nov 13th 2008, 01:56
Giampaolo Huldschinsky
ACE trader since 2008/05/06
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Re: SAS Company Policy (Vote here) |
| Si (yes) 4995 shares |
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Nov 13th 2008, 04:15
Stray Underwood
CEO ESN
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Re: SAS Company Policy (Vote here) |
| Yes (3335 on the 12th) |
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Nov 13th 2008, 07:38
IntLibber Brautigan
ACE trader since 2007/10/21
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Re: SAS Company Policy (Vote here) |
| um not to interrupt, but why wasnt the voting system used? |
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Nov 13th 2008, 12:49
Arbi Tomsen
ACE trader since 0000/00/00
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Re: SAS Company Policy (Vote here) |
| 300,000 Shares. Yes. |
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Nov 13th 2008, 22:29
Gravel Homewood
ACE trader since 2008/05/08
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Re: SAS Company Policy (Vote here) |
| Yes |
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Nov 14th 2008, 04:17
Andiez Smythe
ACE trader since 2008/09/24
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Re: SAS Company Policy (Vote here) |
| My 10,000 says "Yes". |
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Nov 22nd 2008, 10:20
Wenden Xeno
ACE trader since 2007/12/22
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Re: SAS Company Policy (Vote here) |
Thanks for voting in this company policy.
Yes: 564704
No: 0
Turnout: 87% |
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