Is there any Justice?According to Sedar, Ontario is the regulating jurisdiction for NHC, even though NHC was incorporated in British Columbia. HNC Inc lists their head office as Bay Street in Toronto. It used to be Vancouver.
Therefore anyone wishing to file a complaint can find the on-line complaint form at this website:
https://www.osc.gov.on.ca/en/Investors_questions-complaints_index.htm
The steps and press releases the Directors have made over the past few weeks strike me as bizarre. But these are logical, highly-experienced businessmen supported by very reputable advisors. I feel there is more to this story than has been disclosed. I am puzzled and disappointed. And much, much poorer for having ever invested in NHC.
Kramer is buying control for $5 million which entitles him to release his $8 million from escrow and terminate the arbitration process. So Kramer has no net cash outlay to do this deal. I wouldn't want to bet that he will continue to list the shares of NHC on any stock exchange after he gets control. What does that make the shares worth? Zero?
If the Directors knew the company was within days of insolvency, wouldn't that be a material, disclosable fact to include in their response to the takeover? Wouldn't that require a "we support the takeover" statement? If they are so strapped for cash, why didn't they ask the shareholders for cash through a rights issue ... a few months ago when they had time?
No vote on the private placement resulting in change of control? Yeah, right. No vote is the same as expropriation.