High Arctic Energy Services Inc T.HWO

Binnion

[auburn2]

The only board member with meaningful shareholdings. The others seem afraid of owning the shares. Makes no sense how you can be a director for so many years and not do some meaningful open market purchases along the way.

[auburn2]

That said, I would support VN Capital taking a board position.

[JonathanJSmith]

I'm curious as to how many of the Board members' shares were grants and options given on the cheap? Probably most. I'm on board as well with a regime change. I wonder what Maguire's thinking.

[colourama]

From a practical perspective, what sort of influence can a minority shareholder such as VN Capital (and ourselves) have to effect change?Could management and BoD just ignore the call for a special shareholder meeting, or are there legal avenues that open up if minority shareholder concerns aren't being suitably addressed?

[Stonksonlyup90]

Lawsuits. The regulator has been warned about the situation unfolding here several times and certainly it is garnering more attention. I'm not familiar with the avenues to enforce a special meeting, but certainly a lawsuit is always an available avenue if shareholder concerns are being ignored and there is a blatant negligence of the fiduciary duties that Directors are supposed to uphold

[Stonksonlyup90]

The more I think about it, I feel that the only way out of this mess is for an offer for HWO as a whole by Cyrus. ... Daniel Bordessa (Cyrus Director) stepped away from the Board on August 8th potentially opening the door for such a transaction. My fear is that the Board has lost the trust of the vast majority of shareholders and limits any amount of future capital that will flow here. All

[Possibleidiot01]

colourama , you made me curious, So here's what popped up on a Google search @ https://laws-lois.justice.gc.ca/eng/acts/C-44/section-143.html?wbdisable=true 143 (1) The holders of not less than five per cent of the issued shares of a corporation that carry the right to vote at a meeting sought to be held may requisition the directors to call a meeting of shareholders for the

[longrun86]

This is correct! This is one of several items afforded to minority shareholders under the Canadian Business Corporations Act. I had complained before about the lack of involvement of the Independent Directors. I imagine this has caused them to perk up. For Binnion (and to some extent Maguire) the reputational risk is very high here. There is an opportunity yet to work for all shareholders. I