Aristeia Comments on Sina’s Disenfranchisement of Shareholders
SINA (SINA)
Last sina earnings: 2/26 05:00 am
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US:NASDAQ Investor Relations:
corp.sina.com.cn/eng/sina_rela_eng.htm
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Source: Business Wire
-Sees Sina’s Decision to Grant Effective Voting Control to Chairman and CEO Charles Chao as Blatant Corporate Governance Failure Designed to Entrench its Board and Management- -Aristeia is Actively Reviewing Options to Protect Its Investment- GREENWICH, Conn.--(BUSINESS WIRE)-- Aristeia Capital, L.L.C. (collectively with Aristeia Master, L.P. and certain other affiliates, “Aristeia” or “we” or “us”), a long-term investor in Sina Corporation (NASDAQ:SINA) (“Sina” or the “Company”), today commented on Sina’s announcement of changes to the Company’s shareholding structure. Robert H. Lynch, Jr., Partner, Aristeia Capital, L.L.C., said, “We are extremely disappointed by the shocking action of Sina’s Board of Directors (the “Board”) to issue 7,150 newly created Class A Preference Shares with 10,000 votes per share in a related-party transaction to a holding company controlled by Sina’s Chairman
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