Karora Resources Inc KRRGF

Can anyone explain?

[daw2]

There appears to be no mention of putting the deal to a shareholders' vote, or did I miss that?

I can't imagine any (or many) TSX retail investors passing a resolution that would basically strip away their rights/ability to freely trade their shares unless they guarantee a TSX listing.

[Rainman01]

Rob Buchanan from KRR was contacted yesterday and said our shares will be rolled over into a tsx traded security. I will be following up with a call also. I would ask anyone who is not sure to do this also to be sure. Also there will be a vote for the merger. It states 66% vote needed for the transaction to take place. 

[daw2]

Thanks for that RM, but my question was more about shareholders voting to accept the offer as it seems it has been presented as a 'fait accompli' or done deal. I would have thought they (KRR management) would have been obliged to put it up for shareholders approval before any deal could be consummated?

[Rainman01]

There will be a vote in July and if over 66 % it would go through pending approval from tsx and Aus.  markets also. Also trading in US. 

[5oceans]

It is going to be voted in yet. That said, IMO that is a pro-forma because the big guys were brought to speed and most already agreed to lock in their votes together with the boards. So, the packge as presented to all has been detailed by the big interests. Usually, big money gets in the formation and development of these plays much earlier and with perks, before retail;  When the company

[Rainman01]

Yes that is the real truth 100 % . When they tell you both boards approve and all big investors new well before us. So realization is your either in or out is the blunt way of stating it. It is a gamble but I have come this far and have been very lucky so far and Westgold is looking very promising IMO. Paul took a run down nickel mine and turned it into what we are today a world class asset. What

[daw2]

I believe upto 57% (+/-) of shareholding is held by non-insiders/non-institutions.