Cocky Dagger: "It's Up to the Shareholders to Decide, They Own the Security"

A Contentious Battle for GIIF(ISE) Heats Up at Shareholder Meeting Held Yesterday

For SLReports.net

In what proved to be a highly contentious meeting yesterday at the ISE exchange headquarters, all interested parties who had or were planning on tabling proposals to buy the long beleagured Growth Investment Index Fund (GIIF : ISE) met to formally hash out the details of their proposals, meet with shareholders, and for a defined set of expectations in the handover of GIIF(ISE).

GIIF(ISE) was established to encourage and reward investors for actively participating in procuring new businesses and investors to the International Stock Exchange (ISE). The Growth Investment Income Fund sought both current income and long-term capital appreciation by investing in a portfolio of dividend-paying businesses listed on the ISE that have potential for above-average dividend-yield, dividend growth, and long-term capital appreciation.

The recent sharp increase in ISE(ISE) shares, which GIIF has a significant sum of, increases the desireability the handful of hopeful purchasers feel toward acquiring the remnants of the firm.

Andy Grant's L$0.10 bounty on GIIF/GDB shareholder votes may have been a ruse, but not his desire to acquire the firm. Grant's calculation for the value of GIIF(ISE)'s assets is a range of L$140,000 and L$200,000.

"Based on the 30 day average prices it's worth L$136306.34" Grant said. "That's if we price ISE at L$6.00 a share."

"I wont bid more than L$150,000," Pablo Sienkiewicz, CEO of SIM(ISE) the first fully publicly traded company in Second Life, responded, "I wanna do the auction. I think it will work much better for sharholders, and after all it about what is the best offer for shareholders."

Mart Lupino, who wants to convert GIIF(ISE) to FVS(ISE) wagered that his proposal was more to the tune of L$172,000.

"If it's for the ISE shares," Yanik Lytton, GIIF shareholder stated, "Since it's the only thing worth something in it, then lets just auction them."

"Its easy to liquidate it," Martiorari Moody, fellow shareholder responded, "I'd like to see GIIF continue, so price is not the only issue."