Private Shareholder Meeting Rescheduled for Jan. 11 in Las Vegas

Rhett Pardon

LAS VEGAS — A Nevada judge has approved a request to change the date of Private Media Group's annual shareholders meetings to Jan. 11.

The date change for the meeting is a result of  a long-running shareholders suit that pits Private shareholders — led by Consipio Holding BV, Tisbury Services Inc., shareholder Claudio Gianascio and shareholder and former CEO Ilan Bunimovitz — against current front-office management.

Litigating shareholders had persuaded the court to change the meeting date, scheduled for Dec. 15, to permit the them  the opportunity to nominate a new slate of directors.

In addition to changing the date, the Clark County District Court ordered that the location of the meeting be changed from Barcelona to Las Vegas.

It also ordered that there be one independent inspector of elections chosen by the receiver for the Company and that the receiver, Eric Johnson, chair the meeting.

The court also reconfirmed Consipio Holding BV's right to vote 5.6 million of the company's common shares at the rescheduled meeting.