High River Gold Mines Ltd HRIVF

Minority shares not voted?

[production05]

Are there any experts here or can someone look this up?

I don't recall exactly, but in a takeover situation, doesn't non-voting minority shares count on our side, NO!

In a takeover situation, isn't the onus is on the bidder to reach the stated percentages?  They do not get to claim non-voting shares (as they might in voting in Directors at AGM's and such).

If my thinking is right on with regards to this, it will be a significant advantage for us, as there are usually a large percentage of people who typically do not vote.  It might be even great with HRG, with the share price going from $3.50 to $.215.  A lot of people have likely tossed their shres aside, and no longer think about them.  These are potentially all shares that will go towards the NO vote, as the onus is on Severstal.

The onus is not on us.

It would be good if someone can find info on this.

[cjsell]

What Severstal is doing is circumventing the "buy out" process entirely.  They are digesting chunks and diluting via the 61-101 instrument, we don't get to vote, and that's their strategy, because they already own a controlling interest.  If they were coming from the outside...different story. Severstal will accumulate where and when they can, and get to set the price