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HLS go private and no longer have shareholders
HLS/Life Sciences Research Inc. have announced that at a special secret meeting held on Monday 23rd November, its stockholders voted to approve the merger of Lion Holdings Inc., and Lion Merger Corp. (Both solely owned by Andrew Baker, the CEO of LSR/HLS). The NYSE Arca listing for LSR has also been suspended and NYSE will remove LSR from their listing on December 7th 2009.
LSR/HLS are now a wholly owned subsidiary of Lion Holdings Inc. Which is just another newly formed 'company' to front the merger as HLS/LSR go private to stop shareholder protests and make their financial situation even less transparent.
Only recently, HLS/LSR had got special permission for confidentiality in relation to some of the filings with the Security Exchange Commission (SEC), because the SEC filings showed what a bad financial state HLS/LSR are in. Let's not forget that Baker, with no other offers on the table, has gone down this route of a merger buy-out as a last resort to try to keep them afloat.
See our financial subsite: www.shac.net/action/financial/baker.html and IndyMedia website: www.indymedia.org.uk/en/2009/08/436227.html for more details.
But we don't give a damn HLS, Baker and apologists, as we're campaigning for the animals you torture inside your labs. And while you continue to run and hide from your financial dealings, we know what is keeping you in business. Now that you have no shareholders, activists across the globe will be just concentrating and re-doubling all their efforts on Fortress Investments and your customers, thanks for making our job a lot easier!