Welcome to the Piano World Piano Forums
Over 2.5 million posts about pianos, digital pianos, and all types of keyboard instruments
Join the World's Largest Community of Piano Lovers (it's free)
It's Fun to Play the Piano ... Please Pass It On!

SEARCH
Piano Forums & Piano World
Find a Professional
Our Classified Ads
Find Piano Professionals-

*Piano Dealers - Piano Stores
*Piano Tuners
*Piano Teachers
*Piano Movers
*Piano Restorations
*Piano Manufacturers

Advertise on Piano World

What's Hot!!
Posting Pictures on the Forums
-------------------
Forums RULES & HELP
-------------------
ADVERTISE on Piano World
(125ad)
Piano Life Saver - Dampp Chaser
Dampp Chaser Piano Life Saver
(ad)
Piano Buyer Guide
Piano Buyer Fall 2017
Who's Online Now
49 registered members (AprilE, Bambers, BachToTheFuture, Agent88, amad23, Bach_ingMaddie, 13 invisible), 1,059 guests, and 2 spiders.
Key: Admin, Global Mod, Mod
(ad)
Estonia Pianos
Estonia Pianos
Quick Links to Useful Piano & Music Resources
Quick Links:
*Advertise On Piano World
*Free Piano Newsletter
*Online Piano Recitals
*Piano Recitals Index
*Piano & Music Accessories
*Live Piano Venues
*Music School Listings
* Buying a Piano
*Buying A Acoustic Piano
*Buying a Digital Piano
*Pianos for Sale
*Sell Your Piano
*How Old is My Piano?
*Directory/Site Map
*Virtual Piano
*Music Word Search
*Piano Videos
*Virtual Piano Chords & Scales
Previous Thread
Next Thread
Print Thread
#2037239 - 02/21/13 09:58 PM Piano News  
Joined: Jun 2008
Posts: 2,885
Plowboy Offline
2000 Post Club Member
Plowboy  Offline

2000 Post Club Member

Joined: Jun 2008
Posts: 2,885
SoCal
Maybe someone here with more smarts than this relocated Hoosier hillbilly can properly interpret this latest SEC filing from Steinway:
http://phx.corporate-ir.net/phoenix.zhtml?c=76306&p=irol-sec

This is part of it:
Quote
Item 4. PURPOSE OF TRANSACTION.

Item 4 of the Schedule 13D is hereby amended by adding the following:

On February 20, 2013, Samick and the Issuer entered into Amendment No. 1 (the “Amendment”) to the Subscription Agreement dated as of November 5, 2009, which amends the standstill provision thereof to provide that (i) the limitations set forth therein will generally apply unless any transaction receives the prior approval of the Issuer’s Board of Directors, and (ii) Samick and its affiliates may acquire shares of the Issuer’s Ordinary Common Stock without the Issuer’s prior written consent so long as the aggregate percentage of outstanding shares of Ordinary Common Stock held by Samick and its affiliates as a result of any such acquisition does not exceed 35%.


The Issuer is Steinway Musical Instruments. Samick as Kim Jong Sup control some 33% of the company now and he serves on the board of directors. He has a lot of votes. So it seems that Kim is in good position to buy even more of Steinway. I think that's what that means?

If so, the implications are thought provoking. Steinway closed up 2% today.


Gary
Essex EUP-111 at the mountains
W. Hoffmann T-122 at the beach
(ad)
Piano & Music Accessories
piano accessories music gifts tuning and moving equipment
#2037256 - 02/21/13 11:01 PM Re: Piano News [Re: Plowboy]  
Joined: Jun 2009
Posts: 1,607
4evrBeginR Offline
1000 Post Club Member
4evrBeginR  Offline
1000 Post Club Member

Joined: Jun 2009
Posts: 1,607
California
Before you know it, it's at 50%, maybe not this year, with the goal being 100% of course. It might take a few years, but Korea is the next Japan, right?


Art is never finished, only abandoned. - da Vinci
#2037434 - 02/22/13 10:40 AM Re: Piano News [Re: Plowboy]  
Joined: Jun 2008
Posts: 2,885
Plowboy Offline
2000 Post Club Member
Plowboy  Offline

2000 Post Club Member

Joined: Jun 2008
Posts: 2,885
SoCal
Reading the announcement again, it sure seems to clear the way for Samick to buy more stock. In past filings, Steinway indicated that Boston is not doing so well financially, and that Japan may be to expensive a place to build pianos.

Samick has know-how and money. Maybe this could be a good thing?


Gary
Essex EUP-111 at the mountains
W. Hoffmann T-122 at the beach

Moderated by  Ken Knapp, Piano World 

Piano Acc. & Gift Items in
Piano World's Online Store
In PianoSupplies.com ,(a division of Piano World)
our online store for piano and music gifts and accessories, Digital Piano Dolly, party goods, tuning equipment, piano moving equipment, benches, lamps Caster Cups and more.


Free Shipping* on Jansen Artist Piano Benches, Cocoweb Piano Lamps, Hidrau Hydraulic Piano Benches
(*free shipping within contiguous U.S. only)
(ad)
Pearl River & Ritmuller
Pearl River Pianos
(ad)
Pianoteq
PianoTeq 6 Out now
ad
Pierce Piano Atlas


New Topics - Multiple Forums
A trouble spot question
by carolinakeys. 12/16/17 12:45 AM
Happy Birthday in the style of Chopin. WOW!!
by Strat. 12/15/17 11:13 PM
4Front TruePianos - 40% off
by Max_Forte. 12/15/17 06:19 PM
Taubman technique - any thoughts?
by BobTB. 12/15/17 05:34 PM
Forum Statistics
Forums44
Topics183,292
Posts2,679,552
Members89,273
Most Online15,252
Mar 21st, 2010
(ad)
Accu-Tuner
Sanderson Accu-Tuner
Check It Out!
There's a lot more to Piano World than just the forums.
Click Here to
Explore The Rest of Piano World!!
Visit our online store for gifts for music lovers


 
Help keep the forums up and running with a donation, any amount is appreciated!
Or by becoming a Subscribing member! Thank-you.
Donate   Subscribe
 
Our Piano Related Classified Ads
| Dealers | Tuners | Lessons | Movers | Restorations | Pianos For Sale | Sell Your Piano |

Advertise on Piano World
| Subscribe | Piano World | PianoSupplies.com | Advertise on Piano World |
| |Contact | Privacy | Legal | About Us | Site Map | Free Newsletter |


copyright 1997 - 2017 Piano World ® all rights reserved
No part of this site may be reproduced without prior written permission
Powered by UBB.threads™ PHP Forum Software 7.6.0