RE:RE:AGM Voting Results..None But MittlemanYes, even Rabe would have had 57% of the votes withheld at Mittleman Bros voted to withhold. The Chair even more, and the other 3 ridiculous amounts withheld.
So, it is clear to all, including Rabe and all members of the board, that Mittleman can oust them if he so chooses. So he now has silent control.
ShockandAwww floated a theory a while back that will become stronger with every day that passes with Mittleman Bros. being silent. His idea is to put yourself in Mittleman's shoes. His last clear expression of what he wanted was to run Aimia as a private investing firm. This vote shows that he has the votes to oust the board if he wants to, so he has effective control even without 51%. Does he NEED to get rid of the board? Now that July 1 has passed and he is free to take, or threaten to take, any action he pleases, why can't he just tell the board what to do under threat that if they don't, he will call the special meeting and seek a resolution for their removal. They may prefer not to face that, and just comply with his demands. If that is the case, perhaps he may want to shake loose some of other shareholders. If he remains silent, if the board never really tells anyone what the plan is, the stock price will depress. He increase the concentration of his shares with the NCIB, especially if the price goes down and the NCIB is deployed at bargain basement prices.
If that is the case, we may be in for a long haul. Of course, all of this could be rendered false with 1 press release from Mittleman, but the longer he stays silent, the more that starts to look like the case.
On our side is that Mittleman can't wait forever. He was forced to sell another 77,000 shares yesterday. His subsribers are going to demand some return here, and that only happens with the common stock goes up.
Waterboy45 wrote: Without Mittlemanns stand still agreement, all of the current BOD would have failed to meet the 50% criteria.
That agreement ends tommorow.
This week’s trading should be very interesting