Posted - 2006.03.11 20:53:00 - [1]

 

Edited by: Count TaSessine on 11/03/2006 21:03:20
Dear Eve-community

Our Providence Initial Public Offering have sold out before it reached the public phase.

The community interest in our projects has been most gratifying but we honestly admit that it completely surprised us that an enormous 70 Bn Isk twin outpost project would sell out all shares in just 3 days, before it even got to the public phase.

**

(OOC) We always meant for our projects to be community driven, in the broadest sense of the word. We feel that, for what they are, our outpost projects make Eve a more interesting place to be, expands the virtual world, and breaks new ground for what can be achieved in community based gaming. For us, being able to influence the metaversa like this is fun.

Why Eve? To our best knowledge, Eve seems to be the only game on the MMO market that allows things like this to happen. Kudos to CCP.

**

We know that a large number of people outside the ISS have been looking forward to participating in our next project and we regret this one didn't reach the public phase.

We believed it would.


In order to meet the expectations of the community, we have decided to fast forward to the next outpost project:

The ISS Marginis outpost have been a commercial success. So much in fact, that all 4 factory slots in the Gallent Admin outpost usually have production queues of up to 5 days. This is obviously quite intolerable for the producers and industrialists among us.

Go check for yourselves

The market is thriving in Marginis. But in order for it to become a truly selfsufficient local tradehub, we need more factory slots. Producing stuff onsite is much more efficient than relying on empire factories and unsafe spacelanes.

We therefore propose to build a factory outpost in one of the solar systems next to Marginis.

There is a twist to this:

If the twin outpost constellation is to work they need to be part of the same business unit, ie in order to not compete with each other, but to complement each other. We believe the synergy between the two will create more than twice the revenue for the shareholders than the current single outpost does and thus make it a better deal for existing shreholders.

But in order for the twin outposts to become a consolidated business unit, it has to be an extension of the existing Marginis Outpost corporation. To raise the necessary capital for the new outpost the Marginis corporation has to issue more shares. Issuing shares is not something the CEO of a company can do on his own initiative. It has to be approved by a majority of the existing shareholders. Therefore we have decided to put the proposition to vote among the shareholders.

The question we ask the shareholders is: 'Do you want the ISS to build a factory outpost next to Marginis, and do you accept that we issue xx additional shares to do so?'.

The results of the vote will be known in a week, next Sunday, March 19, 2006.

If the vote is 'Yes', we will begin to prepare the financial prospectus for the new IPO and probably launch the IPO within 2-3 weeks.