GREY:CGOOF - Post by User
Post by
KpSinghon Jan 16, 2020 9:31am
156 Views
Post# 30559685
Voting practice for Continental.....illegal or legal?
Voting practice for Continental.....illegal or legal?
The part of voting that I find odd and highly questionable is the following:
--> Continental Gold declared on December 2, 2019 about buyout by Zijin
--> There is massive increase in share purchases between December 2, 2019 - December 15, 2019
--> This increased purchase volume could be attributed to 4 possible ways:
a. Management bought it
b. Investmenet Firms bought it
c. Individual Investors bought it
d. Some unknown/hidden subsidiary of Zijin in either Canada or US bought it
The concern I have is why would Continental Gold allow anyone who purchased shares after December 1, 2019 to have any voting rights? To me that would ethically be wrong since Option D could happen and sway to votes in the favor of the purchase. Does that make sense or I am wrong in my line of thinking?