RE:ETG cancelled meeting. What is up ?Oh the plot just thickened!
Betting odds on a material transaction requiring shareholder approval just jumped for me. What reasons do you cancel your scheduled AGM? Immaterial reason might be it turns out there is a timing conflict with directors or senior management having nothing to do with the Company. Or the accountants won't have the financials ready, or the lawyers the regular proxy circular. That is unusual.
It is an intriguing coincidence with: the arbitration hearing over the operation of the JV with Rio Tinto and OTLLC scheduled for this month; management and insiders not having bought or sold shares since it was unintentionally stated that a resolution of all issues was almost fully negotiated last year,
And of course all of the speculation that a buyout. If it ever was to occur, might be precipitated by the arbitration or Rio Tinyo not wishing the arbitration to go forward.
So, is a potential deal requiring a Special General Meeting imminent? Guess we have to wait and see.
Show me some big money!
cg