Going Private Transaction

**teenvestor2** Fri Feb 17, 2006 9:15 am

Going Private Transaction
Sports Resorts International (SPRI.PK)

Tender Price - $1.00
Current Price- $0.80
Unlimited shares
Broker Shares OK

This one looks good so far, I'm going to keep researching.

-Mike

**grapes** Wed Feb 22, 2006 8:45 pm

Re: Going Private Transaction
Any updates?

I had a look at it this afternoon. It looks like SPRT once announce the intend to buy out individual investors but failed in Sep due to SEC. The weird thing is that in the first SC 13E3 was filed 2005-10-24 but the tender ending date in the SC 13E3 2005-10-21. Not sure what is the trick over there, though there is a SC TO-I file on 2005-09-16. Is it normal that SC TO-I will be filed earlier than SC 13E3. All in all, it looks like the company redo the process from 2006-01-04, extended it Feb 16.

Here I have some questions:

1. Say if you bought 100 shares in a discounted brokage firm Ameritrade today. Then in the SC TO-I/A, which form should you send to brokage firm Ameritrade to inform them? Or you don't need to send them any, since SPRT already send those forms to the broakage firm Ameritrade. All you need to do is to ask Ameritrade to tender your shares to SPRT?

2. Any fees that Ameritrade will charge you?

3. If SPRT extend the offer again, will they pay you first? or will you not pay you till they won't extend the offer anymore.?

4. Say if they reduced the share holder to less than 300 people, will they refuse to buy your shares?

teenvestor2 wrote: Sports Resorts International (SPRI.PK)

Tender Price - $1.00
Current Price- $0.80
Unlimited shares
Broker Shares OK

This one looks good so far, I'm going to keep researching.

-Mike

**teenvestor2** Thu Feb 23, 2006 9:08 am

I actually stopped looking at this after it went up to .9 because my return wouldn't be big enough, but I'll try to answer your questions.

My expierence with going priavtes the broker just depsoited the cash in my account a few weeks after the deal was over.

I have invested in three deals with Scottrade and all have gone through so far, I don't know about Ameritrade but Scottrade charges a $25 "reorganization fee."

I'm not sure what you mean by will they pay you first?

Wen under 300 shareholders corporations are considered illiquid enough, by the SEC, to not need to file forms with them anymore, I doubt the co will buy back your shares....

**coo** Fri Mar 24, 2006 3:17 pm

spri
I am presently tendering this one. I bought back in January when they cracked it, and bought again at .90 after the new announcement. You must notify AMTD to tender. They suggest tendering at least 5 days before expiration to gaurantee tender.

SPRI is kind of interesting. The earlier tender was cancelled because of SEC questions about the fairness to the shareholders of $1 per share. Therefore I was fairly confident in buying in January. They have a book value of .35 or so, but have property listed for sale at higher prices than carried on the books. The major shareolder owns all but 2%, a mere 1M shares outstanding. This leads me to believe they will go through with the tender.