OTCPK:HBAYF - Post by User
Comment by
Bookendson Dec 02, 2019 10:46pm
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Post# 30415731
RE:RE:Special Committee does not recommend Catalyst Offer
RE:RE:Special Committee does not recommend Catalyst Offer Yes, the way I read it is that : " the continuing shareholders will vote against the offer, and so, it will be rejected, therefore, it's not a superior offer"...
But by the same logic, Catalyst and Land and Building will vote against the arragement agreement and therefore it will be rejected and therefore it's ALSO not a superior offer...
The board really needs to get working and do it's job of actually finding us a superior offer.
Personally, I hope the OSC goes down on them hard... It's pathetic how the market is plagued with these kind of situations where the board's interest is just not align with that of it's shareholders. Fiduciary duty is a great concept but that is so far from what is seen in reality... I don't think it was meant to be a mythical concept as a unicorn or an utopia would be... Rather is should be expected and enforced by the regulators.