<div dir="auto"><div><div data-smartmail="gmail_signature">Sent from my mobile<br>Kindly excuse brevity and typos</div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, 14 Nov 2019, 11:05 Justine Chew, <<a href="mailto:justine.chew@gmail.com" target="_blank" rel="noreferrer">justine.chew@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr"><div dir="ltr"><div class="gmail_default" style="font-family:arial,sans-serif;font-size:small">Hello back Seun,<br><br>I would say it depends on the X sum that was agreed upon. I would be aghast if the ISOC Board didn't consider a significantly handsome earnings factor in negotiating the X sum. But for PIR's longstanding purpose-driven mission, this would have been a clean exit plan for ISOC. <br><br>But sure, we should all follow the execution of this transaction and beyond, and certainly, ISOC chapters and all interested parties should scrutinize details of the deal for themselves.</div></div></div></blockquote></div></div><div dir="auto"><br></div><div dir="auto">SO: Certainly the ship has sailed with regards to this transaction, if anything is to be scrutinized it will be plan on how ISOC intends to remain sustainable for many more years to come.</div><div dir="auto"><br></div><div dir="auto">Cheers!</div><div dir="auto"><div class="gmail_quote"><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr"><div dir="ltr"><div><div dir="ltr" data-smartmail="gmail_signature"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><font face="arial, sans-serif"><br>Justine </font><br>-----</div></div></div></div></div></div><br></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, 14 Nov 2019 at 17:47, Seun Ojedeji <<a href="mailto:seun.ojedeji@gmail.com" rel="noreferrer noreferrer" target="_blank">seun.ojedeji@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div>Hello Justine,</div><div><br></div><div>Yes you are right i misunderstood something in your mail, but it wasn't the role, it was the word "proceeds" I had thought you meant the proceeds made by the new org. I guess we are both in sync then. Nevertheless it still opens the question of the fact that the major funding source of ISOC(which includes ISOC chapters)/IETF is now gone. It may look like they have x amount they've received form the sale afterall.....well that to me is a static cash which can either diminish rapidly or increase a little (if invested properly), which i don't think is better than a continuous steady source of funds that ISOC enjoy from earlier ISOC/PIR relationship. I still wonder, what the ref was thinking by making this move!</div><div><br></div><div>Regards<br></div></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, Nov 14, 2019 at 4:34 AM Justine Chew <<a href="mailto:justine.chew@gmail.com" rel="noreferrer noreferrer" target="_blank">justine.chew@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div style="font-family:arial,sans-serif;font-size:small">Seun,<br><br>You are mixing up the roles of the parties. The new owner ie Ethos Capital has no role to play in and does not fund the endowment for ISOC projects/activities. Ethos Capital is buying PIR (the operating entity which is an asset of ISOC) from ISOC - i.e. an outright sale and purchase of an asset - for X sum. It is ISOC which will arrange to fund the endowment vide the X sum (or more accurately, the returns on the investment of X sum) it receives from Ethos Capital.<br><br>After the transaction is completed, Ethos Capital will own and operate PIR outright. So no revenue sharing is involved.<br><br>The announcement indicated that Ethos Capital intends for "<i>PIR to continue to meet the highest standards of public transparency, accountability, and social performance in line with<span class="gmail_default" style="font-family:arial,sans-serif;font-size:small"></span> its longstanding purpose-driven mission</i>" and to maintain "<i>all of </i><span style="font-family:Arial,Helvetica,sans-serif"><i>PIR’s domain operations and educational initiatives</i>" as is - these are PIR's domain operations and educational initiatives </span><span style="font-family:Arial,Helvetica,sans-serif">not ISOC projects/activities.</span></div><div><div dir="ltr"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><font face="arial, sans-serif"><br>Justine </font><br>-----</div></div></div></div></div></div></div></div></div></div><br></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, 14 Nov 2019 at 16:58, Seun Ojedeji <<a href="mailto:seun.ojedeji@gmail.com" rel="noreferrer noreferrer" target="_blank">seun.ojedeji@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="auto"><div><div>Sent from my mobile<br>Kindly excuse brevity and typos</div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, 14 Nov 2019, 03:33 Justine Chew, <<a href="mailto:justine.chew@gmail.com" rel="noreferrer noreferrer" target="_blank">justine.chew@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div style="font-family:arial,sans-serif;font-size:small">It is an outright sale of an asset, the proceeds of which go toward "an endowment fund" for ISOC projects/activities.</div></div></blockquote></div></div><div dir="auto"><div class="gmail_quote"><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div style="font-family:arial,sans-serif;font-size:small"> No revenue sharing is involved.<br></div></div></blockquote></div></div><div dir="auto"><br></div><div dir="auto">SO: This actually is quite fuzzy, and I am not sure how this will be practically feasible. I am not sure what obligation will compel the new owner to adequately fund the endowment/ISOC since there is no revenue sharing agreements involved.</div><div dir="auto"><br></div><div dir="auto">Regards</div><div dir="auto"><div class="gmail_quote"><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="ltr"><div style="font-family:arial,sans-serif;font-size:small"><br>The announcement indicated that all projects and operations will continue as is under new ownership. With its policy on public/community benefit presumably driven and overseen by Ethos Capital's Stewardship Council - I wonder who they will put on this Council.<br><br>PIR under Ethos Capital will lose its non-for-profit status, so there might be financial implication not to ISOC but possibly PIR's existing .org customers/registrants.<br><br>We shall see.</div><div><div dir="ltr"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><font face="arial, sans-serif"><br>Justine </font><br>-----</div></div></div></div></div></div></div></div></div></div><br></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard <<a href="mailto:maureen.hilyard@gmail.com" rel="noreferrer noreferrer noreferrer" target="_blank">maureen.hilyard@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div dir="auto">As Eduardo said there are lots of unknowns at present. Who knows?</div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, <<a href="mailto:alan.greenberg@mcgill.ca" rel="noreferrer noreferrer noreferrer" target="_blank">alan.greenberg@mcgill.ca</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
<div>
Why will it have major implications on ISOC Chapters?<br>
<br>
Alan<br>
<br>
At 13/11/2019 02:52 PM, Maureen Hilyard wrote:<br>
<blockquote type="cite">I know for sure that this was not even hinted at during the last PIR Advisory Council meeting.. but it will have major implications for the ISOC chapters. What are they/ISOC thinking?<br>
<br>
Maureen <br>
<br>
On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <<a href="mailto:mmoll@ca.inter.net" rel="noreferrer noreferrer noreferrer noreferrer" target="_blank">mmoll@ca.inter.net</a>> wrote:<br>
<dl><br>
<dd>Had we known this was lurking in the background -- which it most certainly was at the time -- it might have been a different discussion. How much did ISOC know and when did they know it -- a question ISOC chapters might want to ask.<br>
<br>
</dd><dd>Marita<br>
</dd><dd>-------- Forwarded Message -------- <br>
</dd><dd>Subject: ISOC sells PIR <br>
</dd><dd>Date: Wed, 13 Nov 2019 17:38:29 +0000 <br>
</dd><dd>From: Stephanie Perrin <a href="mailto:stephanie.perrin@MAIL.UTORONTO.CA" rel="noreferrer noreferrer noreferrer noreferrer" target="_blank"><stephanie.perrin@MAIL.UTORONTO.CA></a>
<br>
</dd><dd>Reply-To: Stephanie Perrin <a href="mailto:stephanie.perrin@MAIL.UTORONTO.CA" rel="noreferrer noreferrer noreferrer noreferrer" target="_blank">
<stephanie.perrin@MAIL.UTORONTO.CA></a> <br>
</dd><dd>To: <a href="mailto:NCSG-DISCUSS@LISTSERV.SYR.EDU" rel="noreferrer noreferrer noreferrer noreferrer" target="_blank">NCSG-DISCUSS@LISTSERV.SYR.EDU</a>
<br>
<br>
<br>
</dd><dd> I must say, this casts the decision to drop price caps for .org in a slightly different light. I will keep you posted as I learn more.<br>
<br>
<br>
</dd><dd><a href="https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acquire-Public-Interest-Registry-Internet" rel="noreferrer noreferrer noreferrer noreferrer" target="_blank">https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acquire-Public-Interest-Registry-Internet</a>
<br>
<br>
<br>
</dd><dd>Stephanie Perrin<br>
<br>
</dd><dd>NCSG Chair<br>
<br>
</dd><dd> <br>
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</blockquote></div><br clear="all"><br>-- <br><div dir="ltr"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr">------------------------------------------------------------------------<br><font color="#888888"><blockquote style="margin:0pt 0pt 0pt 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex;font-family:garamond,serif">
<i><span style="color:rgb(0,102,0)">Seun Ojedeji,<br style="color:rgb(0,102,0)"></span><span style="color:rgb(0,102,0)">Federal University Oye-Ekiti<br style="color:rgb(0,102,0)"></span><span style="color:rgb(0,102,0)">web: </span><a href="http://www.fuoye.edu.ng" rel="noreferrer noreferrer" target="_blank">http://www.fuoye.edu.ng</a><br>
<span style="color:rgb(0,102,0)"></span><span style="color:rgb(0,102,0)">Mobile: <a value="+2348035233535" rel="noreferrer noreferrer">+2348035233535</a></span><span style="color:rgb(0,102,0)"></span><br></i><i><span style="color:rgb(0,102,0)">alt email:<a href="http://goog_1872880453" rel="noreferrer noreferrer" target="_blank"> </a><a href="mailto:seun.ojedeji@fuoye.edu.ng" rel="noreferrer noreferrer" target="_blank">seun.ojedeji@fuoye.edu.ng</a></span></i><br><br><blockquote style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">Bringing another down does not take you up - think about your action!<br></blockquote></blockquote></font><br></div></div></div></div></div></div>
</blockquote></div></div>
</blockquote></div></div></div>