Feeds

Psion shareholders are revolting

Symbian stake is family silver

  • alert
  • submit to reddit

High performance access to file storage

Psion's sale of its stake in Symbian to Nokia could be stopped by angry shareholders who remain unconvinced that the sale is a good deal for the business.

One institutional investor, Phoenix Asset Management, which owns 13 per cent of the company, has already said it will vote against the proposed sale.

David Sharman is a spokesman for the growing band of disillusioned private investors. He and other investors met Psion chairman David Potter and directors on Friday, but still believes the deal should not go through.

He said: "The company has only looked at a small subset of possible options and has taken the approach of a highly risk averse investor."

"We still say vote no, there are better ways of realising the value of Symbian and we believe the numbers are in our favour not the board's."

Sharman believes 95 per cent of Psion's private investors will vote against the deal. He said Psion is unusual because half the company is in private hands rather than 5-10 per cent. He believes Psion shareholders are very knowledgable and understand that the shares are relatively high risk.

Psion says the majority of proxy votes it has already received are voting in favour.

The disgruntled shareholders are gathering online at http://www.pssion.com®

Related stories

Symbian sale is for the best, says Psion
Symbian minorities to block Nokia sale
Psion looks past Windows to Linux

Related Products
Check out the Psion & Symbian Department from The Reg mobile store

SANS - Survey on application security programs

More from The Register

next story
Virgin Media so, so SORRY for turning spam fire-hose on its punters
Hundreds of emails flood inboxes thanks to gaffe
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
AT&T dangles gigabit broadband plans over 100 US cities
So soon after a mulled Google Fiber expansion, fancy that
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
Google looks to LTE and Wi-Fi to help it lube YouTube tubes
Bandwidth hogger needs tube embiggenment if it's to succeed
Turnbull gave NBN Co NO RULES to plan blackspot upgrades
NBN Co faces huge future Telstra bills and reduces fibre footprint
NBN Co plans fibre-to-the-basement blitz to beat cherry-pickers
Heading off at the pass operation given same priority as blackspot fixing
NBN Co in 'broadband kit we tested worked' STUNNER
Announcement of VDSL trial is not proof of concept for fibre-to-the-node
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.