GREY:CXSNF - Post by User
Comment by
goldpolkaon Jul 02, 2019 11:33am
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Post# 29879934
RE:RE:Buy
RE:RE:BuyAs per Management Info Circular, I notice that FCMI Financial own 10.2% of the non management stock ... and Alan Silber had about 9.1% in the filing last year (I don't think he was included this year as now not a part of management team, and under 10%). To my knowledge, neither of these two signed up for the deal (at least from what I saw posted on Sedar) ... but maybe I missed it.
Does that mean :
a) they don't like the deal (Silber and FCMI FInancial), and perhaps could offer a counter bid ?; or,
b) they will be able to ensure the deal passes a majority of the minority shareholders at the vote ? These two tranches of stock alone would go a long way, assuming other shareholders are more widely dispersed.
c) was this the reason that Alan Silber resigned as Chairman at end of 2018 ? (to pass a deal like this ... or because there was some sort of disagreement ? or just retirement). Tough to know ...
d) many of the former management team of Mr. Silber signed up for the deal ... so tough to think that Mr. Silber wouldn't tender to the transaction
So many questions ... I guess we will see how it plays out.
Perhaps the issues faced by OSFI are greater than the shareholders know ... really tough to understand how $0.68 is fair value, but all the insiders seem to think so !
GLTA