RE:exercising the dissent optionHi kw12345,
I assume we are referring to the following:
Dissent Rights
Pursuant to the BCBCA, registered Shareholders have the right to dissent with respect to the Sale Resolution by sending a notice of dissent to the Sale Resolution to Eastplats, care of: Fasken Martineau DuMoulin LLP, Suite 2900, 550 Burrard St., Vancouver, British Columbia, V6C 0A3, Attention: Michael Boehm, at least two business days before the date of the Meeting. Each Shareholder who properly dissents will be entitled to be paid the fair value of the Common Shares in respect of which such holder dissents in accordance with Sections 237 to 247 of the BCBCA, which is attached in its entirety to this Information Circular as Appendix “A”. A Shareholder who has voted in favour of the Sale Resolution, in person or by proxy, shall not be accorded the right to dissent.
If a shareholder dissents, does the shareholder argue the fair value of the company? If so, it would be very compelling to make the case for a higher fair value. The issue is that it is worded so that most shareholders would not go through this option (certificates, hiring lawyers, etc.)
Would Harrington proceed with this option? I imagine that an arguement could have been made for a higher price compared to what they sold to Ka An for.