Costa Brava, JEC Jointly Propose Four Candidates to KIT digital's (KITD) Board
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In a 13D filing on KIT digital, Inc. (Nasdaq: KITD), Seth W. Hamot's hedge fund Costa Brava Partnership III L.P. disclosed a 6.1%, or 3,376,000 share, stake in the company, based on 54,941,040 shares outstanding as of June 7, 2012, as reported in KIT Digital’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission on June 8, 2012.
This is up 3.88% from the 3,250,000 shares held on May 10th, 2012.
According to the filing, Costa Brava said it held discussions with JEC II Associates, LLC (JEC) regarding KIT digital. Costa Brava and JEC jointly proposed four candidates to KIT digital for prompt appointment as directors of the Issuer. Based on this joint proposal to the Issuer, the Reporting Persons and JEC may be deemed to be a group under Section 13(d) of the Securities Exchange Act of 1934, as amended.
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This is up 3.88% from the 3,250,000 shares held on May 10th, 2012.
According to the filing, Costa Brava said it held discussions with JEC II Associates, LLC (JEC) regarding KIT digital. Costa Brava and JEC jointly proposed four candidates to KIT digital for prompt appointment as directors of the Issuer. Based on this joint proposal to the Issuer, the Reporting Persons and JEC may be deemed to be a group under Section 13(d) of the Securities Exchange Act of 1934, as amended.
For more notable holders of KIT Digital, Inc. stock click here.
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