From 13D Tracker
In a 13D filing on Bisys Group (NYSE: BSG), Okumus Capital disclosed a 10.4% stake (12.6M shares) in the company. The firm disclosed a letter to the Board of Directors of the company from its President Ahmet H. Okumus indicating his desire to be added to the Board. The firm changed their filing status from 13G (passive) to 13D, indicating their more active stance with the investment.
A Copy of the Letter:
To the Board of the BISYS Group:
Okumus Capital LLC currently beneficially owns approximately 10.4% of the outstanding shares of The BISYS Group (the "Company"). I am the President of Okumus Capital and I would like to join the Board of Directors of the Company.
While I have the utmost confidence in the ability and intentions of the current Board and Management, I believe that my perspective as a financial professional and representative of a significant shareholder on the Board would provide theBoard with practical insight and guidance in considering the Company’s strategic alternatives.
I have attached information on my background in the investment management field. I strongly feel that my experience in identifying undervalued assets, along with my knowledge of financial engineering and capital allocation can make an immediate positive impact to the Board during this critical period.
I look forward to a response shortly.
Sincerely,
Ahmet H. Okumus
President
Okumus Capital LLC
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