kidl2 wrote: The fact that only 31% of current shareholders cast their vote is telling and essentially confirms that the vast majority of existing retail shareholders are nothing but sheep.
After the 1 for 4 consolidation the share price will return to the pre-consolidation price which happens 95% of the time. The new owners won’t care as all they have no stake in the company. All they wanted was the cash.
If I still owned EUO shares, I would dispose of them the second EUO starts trading again. Just an opinion. Not advice.
Eurocontrol Special Meeting Results TORONTO, March 29, 2019 (GLOBE NEWSWIRE) -- Eurocontrol Technics Group Inc. (TSX Venture: EUO; OTCQB: EUCTF) (“Eurocontrol” or the “Company”) is pleased to announce results of the Special Meeting of shareholders held today (the “Meeting”). At the Meeting, proxies representing 28,430,789 shares (31% of the shares outstanding) were received with 25,298,288 shares, 91% represented at the Meeting voted in favour of the transaction with Sable Resources Ltd. (“Sable”) to acquire Sable’s British Columbia mining and related assets and the transactions contemplated in connection therewith including the creation of a new Control Person (the “Transaction”). Also at the Meeting, and in connection with the Transaction, shareholders approved the resolutions electing the resulting issuer directors (25,147,288 shares, 90.3% represented in favour), the voluntary de-listing from the TSX Venture Exchange and the listing on the Canadian Securities Exchange (26,978,288 shares, 96.8% represented in favour), and the new stock option and restricted share unit plans (each 25,075,638 shares, 90.0% represented in favour). In addition to the foregoing, the current directors of the Company were re-elected and BDO LLP, the Company’s auditors were re-appointed.
Eurocontrol’s application to the Canadian Securities Exchange is currently in the review process. With shareholder approval having been received at the Meeting, the Company is progressing quickly towards closing the Transaction.
For further information on this press release, please contact Paul Wood, Interim President and CEO of Eurocontrol at (416) 361-2808 or
pwood@eurocontrol.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has passed upon the merits of the proposed transaction or approved or disapproved the information contained this news release.