Noranda Income Fund Unit NNDIF

AMF

[Eric1212]

Je tente ma chance : 

Rsum de la situation :

Alors qu'elle est au courant qu'au moins 10 % des investisseurs n'ont plus confiance envers les membres du conseil d’administration, as ngoci avec un belligrant au centre de la controverse susmentionn. L'tique et je pense les loi entourant les droits des p-e-t-i-t-s investisseurs aurait du prvoir qu'il n'y est pas ce type d'accord avant le vote concernant le remplacement du conseil d’administration.

Rsultat attendu :

Que le tribunal / l'autorit ordonne que l'offre ngoci par le conseil est nul et non avenue et qu'aucune pnalit ne peut tre charg par Glencore envers le fond de revenus noranda car Glencore aurait du savoir que le conseil avec lequel il ngociait avait perdu la lgitim d'une part importante des actionnaires minoritaires (Probablement plus de 25 %, prs de 30 % et ce uniquement les donnes publiques, il est raliste de croire qu'au moins 40 % des actionnaires minoritaires du fond ont manifest plus ou moins publiquement un dsaveux avec le conseil.).

Translated with deepl : 

Summary of the situation:

While aware that at least 10% of investors have lost confidence in the board of directors, negotiated with a belligerent at the center of the above controversy. The ethics and I believe the laws surrounding the rights of small investors should have provided that there is no such agreement prior to the vote regarding the replacement of the board of directors.

Expected result:

That the court/authority orders that the offer negotiated by the board is null and void and that no penalty can be charged by Glencore to the Noranda Income Fund because Glencore should have known that the board with which it was negotiating had lost the legitimacy of a significant part of the minority shareholders (Probably more than 25%, close to 30% and this only public data, it is realistic to believe that at least 40% of the minority shareholders of the fund have more or less publicly expressed a disavowal with the board).

 

[JCW]

Thanks Eric....well described (I agree) and logical. I trust our legal pals will be exploring the courts and hope for some common sense to prevail!  

[Scotch12]

I sincerely appreciate all your efforts Eric.  However, I don't think this is going to come down to a legal challenge.  Management will state that your claims of how many of the minority share holders disapprove of the board or the takeover amounts to pure speculation.  Furthermore, there is going to be a vote were shareholders have complete control over the matter. I think it

[Eric1212]

Actually, 22 / 100 (The big group) less 25 / 100 (Glencore) meaning 22 / 75 then reported to percentage, it's 29.33 / 100 of minority shareholder. That just plain mathematics. The issue here is more the 2 M$ fees than the vote to be honest. Action noranda have about 5-10 % of minority shareholders in extra... That where the 40 % come from.

[schocor]

"Action Noranda" - eric can you tell me more abou thtis group; a second dissident group I gather? Is this something others - like myself - can sign up to or larn more about? Thasnk 

[Eric1212]

It's represent roughly 2 400 000 - 3 000 000 shares. But the lead is up to the group represented by Riverstyx Capital Management and LM Asset Fund, i do talk to them time to time but i put effort in my private compagny at this time, so Action Noranda is semi-dormant letting the maximum lead space to Riverstyx Capital Management and LM Asset 

[Deev86911]

I tried to add myself to action, Noranda and seems to be something wrong with the site I'm trying to add my 211,208 count of shares I don't have a share certificate but I took a picture of my high trade account to show proof of ownership

[Eric1212]

It's only dormant for the moment are AN doesn't lead this situation, that's why. I considered your count. ;) 

[Deev86911]

Thank you, Erric

[rjk1234]

absolument d'accord!  Mais est ce que le question est dja devant un tribunal ou doit quelqun faire une soumission?