Looks like krnshareholders.com have had enough!https://krnshareholders.com/ I am absolutely stunned at the number of regulator contacts that have been advised of concerns regarding DF Kings involvement in the Karnalyte 2018 election results, and yet it appears there has been very little satisfaction for those shareholders to date.
What is it going to take for agencies designed to protect Canada's shareholders to get the lead out of their back pockets, and start protecting these shareholders?
Would it not be considered a huge conflict of interest if DF King was hired to provide the following services a week or so before an AGM, but also hired as the corporations Tabulation Agent to oversee the final votes?
"“The Company has engaged the services of D.F. King, a division of AST Investor Services Inc. (Canada), as its proxy solicitation and information agent. Engaging a proxy solicitor is very common for publicly traded – companies as it helps facilitate shareholder engagement in the governance of the company. Initiating a targeted shareholder engagement effort supports shareholder democracy by ensuring that all shareholders, despite the size of their holdings, receive timely, current, and comprehensive information about the Company and the matters to be voted on at its shareholder meetings. D.F. King has been engaged at an anticipated cost of $125,000 consisting of a base fee of $50,000 and an additional fee of $35,000, if management's nominees are elected and each of the resolutions recommended by management is passed, and a further $40,000, based on the number of votes cast in favour of, or withheld from voting for, each of management's nominees. The total potential cost will be borne by the Company" So how in the world could DF King be hired as Tabulation Agent considering DF King would have direct access to every shareholders proxy control number?
Even more of a kick in the teeth to shareholders, DF King got paid 6 figures for their services!
There appears to be a real fundamental system flaw in a Canadian corporations shareholders democratic right to vote, if those votes can be changed at the whim of a Transfer Agent hired to ensure victory of incumbent directors.
Even worse, a couple years later the TMX Group acquires AST and in doing so, also DF King when the TMX had already been advised of fraud concerns, according to the folks at krnshareholders.com.
https://www.tmx.com/newsroom/press-releases?id=973 https://www.tsx.com/contact/other-inquiries Unbelievable!