Altai Capital Nominates Co-Founder Tesoriere to MEMC Electronic Materials (WFR) Board
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Large MEMC Electronic Materials (NYSE: WFR) Altai Capital Management filed an amended 13D with the U.S. Securities and Exchange Commission today, disclosing a proposed management change.
According to the amended filing: "On June 15, 2012, the Investment Manager proposed that Steven V. Tesoriere, co-founder and Managing Principal of the Investment Manager, be appointed to the Board of Directors of the Issuer to fill the vacancy created by the recent resignation of Robert J. Boehlke from the Board. Without limiting the scope of potential discussions or meetings that the Reporting Persons may undertake as described above, the Reporting Persons may engage in discussions with members of management, the Board of Directors or other stakeholders with respect to the potential appointment of Mr. Tesoriere to the Board."
Altai currently holds on to 16,267,736 MEMC shares, amounting to about 7 percent of total outstanding stock.
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According to the amended filing: "On June 15, 2012, the Investment Manager proposed that Steven V. Tesoriere, co-founder and Managing Principal of the Investment Manager, be appointed to the Board of Directors of the Issuer to fill the vacancy created by the recent resignation of Robert J. Boehlke from the Board. Without limiting the scope of potential discussions or meetings that the Reporting Persons may undertake as described above, the Reporting Persons may engage in discussions with members of management, the Board of Directors or other stakeholders with respect to the potential appointment of Mr. Tesoriere to the Board."
Altai currently holds on to 16,267,736 MEMC shares, amounting to about 7 percent of total outstanding stock.
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