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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Here is the transcript of the call:<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Cara Gagliano </span></b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>One clarifying point, and this might be a question either for you or Erik. Did Ethos condition it's offer, then, on there not being a public bidding process, or the fact of these negotiations going on not being made public. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Erik Brooks </span></b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Happy to answer that. No. Our proposal to the Internet Society was a proposal that we made directly, and for the purpose of trying to buy the business, but there was there was no explicit requirement that remain private. I think the reality of the situation is, ISOC retained a financial advisor, who ended up conducting a process that is normal and standard for these kinds of situations, that resulted in multiple other bids coming in. And so, no, there were no specific requirements we put on ISOC at all, as to how they conducted the process.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Best,<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Richard<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div style='border:none;border-left:solid blue 1.5pt;padding:0in 0in 0in 4.0pt'><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Joly MacFie [mailto:joly@punkcast.com] <br><b>Sent:</b> Friday, December 6, 2019 12:53<br><b>To:</b> Richard Hill<br><b>Cc:</b> Chapter Delegates<br><b>Subject:</b> Re: [Chapter-delegates] NTEN PIR community call transcript<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><blockquote style='border:none;border-left:solid #CCCCCC 1.0pt;padding:0in 0in 0in 6.0pt;margin-left:4.8pt;margin-right:0in'><p class=MsoNormal><span style='font-size:8.5pt;font-family:Consolas'>1) Ethos did not require that its offer remain private, so I don't understand why ISOC says that it cannot publish it because of non-disclosure agreements.</span> <o:p></o:p></p></blockquote><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal> That is not exactly what was said (as I understand it). It was only that the a deal was in the works that they had no problem being known. But the rest of the detail was NDA. But it did allow ISOC's team to solicit other bids in a transparent (but still private, as per norm) manner. Like "Hey, before we do this deal that we cannot disclose details of, do you want to make an offer?"<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>joly<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal>On Fri, Dec 6, 2019 at 6:39 AM Richard Hill via Chapter-delegates <<a href="mailto:chapter-delegates@elists.isoc.org" target="_blank">chapter-delegates@elists.isoc.org</a>> wrote:<o:p></o:p></p></div><blockquote style='border:none;border-left:solid #CCCCCC 1.0pt;padding:0in 0in 0in 6.0pt;margin-left:4.8pt;margin-right:0in'><div><div><p> <o:p></o:p></p><p>In that call, ISOC, PIR, and Ethos made many reassuring statements, but there wasn't much in terms of specific information. What I got out of the call in terms of new information was:<o:p></o:p></p><p> <o:p></o:p></p><p>1) Ethos did not require that its offer remain private, so I don't understand why ISOC says that it cannot publish it because of non-disclosure agreements.<o:p></o:p></p><p> <o:p></o:p></p><p>2) Ethos will remain a private company, so it will not publish its financial plan or the information that it provided to its investors.<o:p></o:p></p><p> <o:p></o:p></p><p>3) The new corporate structure of PIR is not yet decided, they are still evaluating the options, so I don't understand why ISOC and Ethos insist that the deal has to be closed rapidly.<o:p></o:p></p><p> <o:p></o:p></p><p>4) At present, Ethos is not envisaging legally binding, enforceable commitments. Those might be developed later.<o:p></o:p></p><p> <o:p></o:p></p><p>5) Ethos' offer was not affected/conditioned by the removal of the price caps (they previously announced that they intend to maintain the 10%/year cap voluntarily).<o:p></o:p></p><p><br>Best,<o:p></o:p></p><p>Richard<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'> </span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'> </span><o:p></o:p></p><div style='border:none;border-left:solid blue 1.5pt;padding:0in 0in 0in 4.0pt'><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Chapter-delegates [mailto:<a href="mailto:chapter-delegates-bounces@elists.isoc.org" target="_blank">chapter-delegates-bounces@elists.isoc.org</a>] <b>On Behalf Of </b>Joly MacFie via Chapter-delegates<br><b>Sent:</b> Friday, December 6, 2019 12:31<br><b>To:</b> ISOC Chapter Delegates<br><b>Subject:</b> [Chapter-delegates] NTEN PIR community call transcript</span><o:p></o:p></p></div></div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p><div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Transcript<o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><a href="https://isoc.live/pir/NTEN_Community_Call_Internet_Society_Sale_of_PIR_ORG.pdf" target="_blank">https://isoc.live/pir/NTEN_Community_Call_Internet_Society_Sale_of_PIR_ORG.pdf</a> <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Video: <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <a href="https://twitter.com/ISOC_Live/status/1202679421670309888" target="_blank">https://twitter.com/ISOC_Live/status/1202679421670309888</a><o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><br clear=all><o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p></div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>-- <o:p></o:p></p><div><div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>---------------------------------------------------------------<br>Joly MacFie 218 565 9365 Skype:punkcast<br>--------------------------------------------------------------<br>-<o:p></o:p></p></div></div></div></div></div></div></div><p class=MsoNormal>_______________________________________________<br>As an Internet Society Chapter Officer you are automatically subscribed<br>to this list, which is regularly synchronized with the Internet Society Chapter Portal (AMS):<br><a href="https://admin.internetsociety.org/622619/User/Login" target="_blank">https://admin.internetsociety.org/622619/User/Login</a><br>View the Internet Society Code of Conduct: <a href="https://www.internetsociety.org/become-a-member/code-of-conduct/" target="_blank">https://www.internetsociety.org/become-a-member/code-of-conduct/</a><o:p></o:p></p></blockquote></div><p class=MsoNormal><br clear=all><o:p></o:p></p><div><p class=MsoNormal><o:p> </o:p></p></div><p class=MsoNormal>-- <o:p></o:p></p><div><div><div><p class=MsoNormal>---------------------------------------------------------------<br>Joly MacFie 218 565 9365 Skype:punkcast<br>--------------------------------------------------------------<br>-<o:p></o:p></p></div></div></div></div></div></body></html>