Hanover: no sale yet of Explosive Matter
October 25, 2017
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Hanover Shoe Farms, Inc., as syndicate manager of the trotting stallion Explosive Matter, has received notification of an offer from syndicate members Global Farm AB and Boko Stables to purchase all of the other shares in Explosive Matter for $25,000 per share.
The syndicate manager has asked syndicate members whether they desire to accept that offer and their response is due on Oct. 28. Upon receipt of responses from the syndicate members, the syndicate manager will apply the procedures required by the Explosive Matter syndication agreement dated Oct. 30, 2009, regarding transfer of interests in the stallion, which include a right of first refusal.
The syndicate manager will shortly be in touch with syndicate members regarding those contractual procedures.
Contrary to public reports, no determination as to the ownership or location of the stallion has yet been made. (Hanover Shoe Farms)