TSX:DA.DB.A - Post by User
Post by
Time2soaron Jun 13, 2012 10:49pm
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Post# 20011643
Annual General Meeting
Annual General Meeting I wish their was a bigger turnout. As shareholders we should show our support and be at the annual meeting with questions. I heard 35 proxies were filled out and 1 shareholder attending the meeting, a quarter way thru another gentleman arrived. I feel to have our views acted on respectfully, we need to put in the extra effort.
At the meeting I learned about the 70 million Clairvest loan in more detail. I learned that it was secured to be interest bearing at 10% but not as cash out of the hands of the corporation but as accuring interest added onto the loan, which is than convertible at a share price of $7.30/ share. Which means the company saves 7 million a year from out of pocket cash but is added onto the loan debt, which should substantially help earnings per share.
I also had some various other questions answered, i found it very helpful and rewarding attending the meeting even tho it only lasted 1 hour and cost me out of pocket $1300.00 for travel expense and hotel. Money i felt well worth it. I hope to see more shareholders come out next year.