RE: RE: May be finished Been on holiday, but this caught my eye from one of the pr's. Blocking shareholder say in the recapitalization plan due to financial hardship?
Cline’s share price has dropped 25% since late December and closed at 6c after Wednesday trading.
To enact the restructuring, Cline has applied for an exemption from shareholder approval on the basis of financial hardship.
The company contended that the immediacy of its need to address the restructuring did not afford sufficient time to hold a shareholder meeting.