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The Nomination Committee’s Destructive Proposal, Our Response, and Our Ballot
Dear minority shareholder, This initiative was launched with a clear purpose: to initiate an investigation into key events at REC Silicon and to ensure the election of board members who genuinely represent the interests of all shareholders. We now clearly see that there should be sufficient support among shareholders to reject the sham offer, and… Continue reading
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Water Street Capital Nominates Highly Qualified Slate of Independent Directors to REC Silicon Board
Water Street Capital, Inc. (“Water Street”), a long-term, value-oriented private investment firm which, together with its affiliates, collectively owns 8.26% of the outstanding common stock of REC Silicon ASA, today announced its highly qualified slate of director candidates that it has nominated for election to REC Silicon’s Board of Directors at the Company’s Annual General Meeting (“AGM”)… Continue reading
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#StopTheSteal
Da er buddokumentet ankommet – et åpenbart skambud som for vår del hører hjemme i papiravfallet. Om ikke lenge vil vi kunne se en helt annen verdsettelse av selskapet. Det er mange som følger nøye med og har kalkulatoren klar. Budet har svarfrist 24. juni, så alle har god tid. Det vil skje ting før… Continue reading
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#StopTheSteal
The bid document has arrived – an obvious lowball offer, best suited for the recycling bin. Before long, we believe the company can be valued very differently. Many are watching closely, calculators in hand. The bid deadline is June 24, so there is plenty of time. And much will happen before then. Then came the… Continue reading
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Verdier, potensial og klart samme syn som Water Street
For en langsiktig minoritetsaksjonær i REC kan vel uken beskrives som innholdsrik og positiv. Vårt initiativ er helt på linje med innholdet i Water Streets brev og mener at en gransking nå er på sin plass. Etter vårt syn reflekterer budet fra Korea på ingen måte de underliggende verdiene i selskapet. Teknologi, eiendelene i Moses… Continue reading
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Value, potential, and alignment with Water Street
For a long-term minority shareholder in REC, this week can rightly be described as eventful and encouraging. Our initiative is fully aligned with the content of Water Street’s letter. We believe a formal investigation is warranted at this point. In our view, the bid from Korea in no way reflects the company’s underlying value. REC’s… Continue reading
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A letter from a trusted associate
Dear fellow shareholders, We are pleased to share a letter from a trusted associate. Continue reading
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Q1 – initial reactions
Below are some immediate thoughts and questions after today’s presentation of Q1. Excerpts from the Q&A session is from Quartr’s autogenerated transcript. In general, today’s quarterly presentation was, as feared, disappointing. The CEO seemed to be under oversight, with messages needing prior approval. Lack of communication with the initiative We sent questions ourselves, and we… Continue reading
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The Initiative’s Letters to REC – Questions that remain unanswered
In previous posts, we have referred to our attempts at communication with the company and the lack of response. In the interest of full transparency, we have now decided to publish the letters that we, as a group, have sent to the company. These are letters containing questions and requests for information that, to this… Continue reading
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Stop the steal
Originally posted on April 26th, 2025 On Thursday, the bid of NOK 2.2 per share was announced – coincidentally on the same day that Norwegian media were focused on politicians visiting the U.S. President. As a naive Norwegian, one could hope that REC’s board and management were working on a refinancing solution, especially after terminating… Continue reading
Make REC Great Again! 