On Wednesday (October 25) a statement was issued by Hanover Shoe Farms on the status of trotting stallion Explosive Matter.
The statement reads as follows:
Hanover Shoe Farms, Inc., as Syndicate Manager of Explosive Matter, has received notification of an offer from syndicate members Global Farm AB and Boko Stables to purchase all of the other shares in Explosive Matter for $25,000 per share. The Syndicate Manager has asked syndicate members whether they desire to accept that offer and their response is due on October 28, 2017. Upon receipt of responses from the syndicate members, the Syndicate Manager will apply the procedures required by the Explosive Matter Syndication Agreement dated October 30, 2009, regarding transfer of interests in the stallion, which include a right of first refusal. The Syndicate Manager will shortly be in touch with syndicate members regarding those contractual procedures. Contrary to public reports, no determination as to the ownership or location of the stallion has yet been made.
A son of Cantab Hall - Fireworks Hanover, Explosive Matter has stood at Hanover since 2010. Despite chasing Muscle Hill for two seasons, Explosive Matter managed a record of 11-6-1 in 20 lifetime starts and banked more than $1.5 million on the racetrack before retiring to stallion duty. From 549 foals, Explosive Matter has sired 294 starters with lifetime earnings of $19.8 million.