How The Master Of JDate And Christian Mingle Lost At The Business Enterprise Of Love
Spark Networks, owner of JDate, Christian Mingle, along with other dating sites, is facing an intense activist campaign by the hedge investment Osmium Partners, which can be trying to unseat the board and force a purchase for the distressed business.
Then Spark Networks, owner of JDate, Christian Mingle, and a handful of other niche dating sites, is about to get its heart broken if love is a battlefield.
Osmium Partners is virtually particular to win the four board seats it is gunning for when Spark holds its yearly shareholder conference in a few days, sources acquainted with the problem stated, allowing the activist hedge investment to assume control and force a purchase associated with business. Initially planned for June 17, Spark has recently delayed the meeting that is annual June 28, a move these sources said is targeted at buying Spark additional time to rally shareholders to vote down Osmium's proposal or preempt a forced sale by securing a unique buyout offer.
A agent for Spark, which trades underneath the "LOV" stock ticker, declined to comment beyond citing the business's general public filings.
Osmium, which has 15% of Spark, established its proxy battle 
in December 2013, citing exactly exactly what it claims are Spark's bad corporate governance, settlement issues, and stock price that is declining. The hedge investment additionally alleges that Spark has mismanaged JDate, its "crown jewel," and that its networks that are christian been underperforming in accordance with their internet dating peers.
At a per share price of approximately $5, a nearly 50% decrease within just per year, the marketplace and investors may actually have fallen out from love with "LOV." As Osmium waits to see whether voters will think its four board nominees are a match, listed here is a glance at a few of the hedge investment's other gripes with Spark, according to a presentation it offered to investors in might: